Ethanol and Big Oil Fight EV Push

Grain Markets and Other Stuff

English - February 07, 2024 11:00 - 13 minutes - 17.9 MB - ★★★★★ - 249 ratings
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Oil and farm groups in the US are teaming up to oppose the rise of electric vehicles (EVs), which could reduce oil and ethanol demand. They're pushing for year-round sales of E15, a blend of gasoline with 15% ethanol, to promote ethanol usage. Meanwhile, US corn farmers are urging the White House to recognize the benefits of biofuels like ethanol in reducing vehicle emissions. 🌽🛢️🚗

In global news, Chinese officials are concerned about US tariffs and sanctions, but meetings with US Treasury officials were constructive. Russian President Putin is set to visit Turkey, his first trip to a NATO country since the Ukraine invasion. 🇨🇳🇷🇺

In the EU, plans to reduce pesticide use were withdrawn due to farmer protests, but the European Commission proposed cutting net greenhouse gas emissions by 90% by 2040. 🇪🇺🌱