U.S. EPA is reviewing whether to grant an ethanol industry request to raise the maximum amount of ethanol that can be added to gasoline to create a 15-percent blend from 10 percent allowed today, a move that could affect more than 500 million gasoline engines used in large pickups to lawn mowers, according to this NYT article.
The nation's largest independent refiner, Valero Energy, has agreed to buy seven ethanol plants from VeraSun Energy, according to this NYT report. The price tag - $477 million.
From the NYT: The goals set by Congress for the ethanol industry are in jeopardy barely a year after it enacted legislation meant to encourage a national industry capable of converting plants and agricultural wastes into automotive fuel.
Difficult times for another biofuel producer: VerSun Energy Corp. has filed for bankruptcy protection as a result of entering into certain hedges on corn.
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