U.S. Corn Faces Setback with Big Oil Pulling E15 Support
The ethanol industry is facing a major setback as the American Petroleum Institute withdraws support for legislation to allow year-round sales of higher blends of the corn-based biofuel throughout the country.
The powerful oil lobby says it no longer backs a bipartisan bill spearheaded by Republican Sen. Deb Fischer of Nebraska that would allow for retail sales of higher blends of ethanol with gasoline, known as E15.
The API's prior support had been heralded as a breakthrough in relations between Big Oil and the agriculture sector, which have spent most of the last couple decades in fierce lobbying battles over fuel policy.
Author's summary: Big Oil withdraws E15 support, a setback for U.S. corn.