Two important pieces of information were released this week at the 17th Annual National Ethanol Conference in Orlando, Florida. The 2012 Ethanol Industry Outlook was released. It catalogs the important statistics for America’s domestic ethanol industry while providing the most recent, up-to-date graphs, charts and facts about the production and use of fuel ethanol. Also released was the Pocket Guide to Ethanol, which puts a wealth of industry information right at your fingertips.

Renewable Fuels Association President and CEO Bob Dinneen says – from production to use to market access, ethanol producers around the country are making meaningful contributions to America’s economic prosperity, energy security, and environmental health.

The annual outlook covers numerous topics including: the ethanol industry’s economic impact and contributions, value in rural markets, next generation biofuels, building new markets, progressive policy, ethanol blended fuels, indirect land use change, food and fuel, world markets, and consumer awareness. The Pocket Guide covers domestic market expansion, increasing national security, stimulating America’s economy, expanding the global marketplace, statewide efforts made across the nation, and food vs. fuel.

Source: NAFB News Service

The 59th Speaker of the House, who played an active role in the development of current energy policy, spoke about leadership and the importance of the nation’s energy security during an appearance at the GROWMARK FS System “Gold Rush” event in East Peoria, Illinois to introduce re-formulated Dieselex Gold. Dennis Hastert, a native of Illinois, told the group that growing up on a farm taught him the responsibility and leadership that helped serve him well in public life. He spoke of being an “accidental Speaker” and becoming a “war-time Speaker” after 9/11.

When asked by a member of the audience about energy policy, Hastert was adamant about the importance of renewable fuels and ethanol in particular. “We need to use ethanol,” he said. “I fought for ethanol from the time that I was in Congress for 15 years and finally got through the Ways and Means Committee along with a guy named Nussle from Iowa and we got ethanol with the tax credits so it could be a viable product. If we sit back and don’t do anything about it, we’re going to lose it.”

Source: Domestic Fuel

Oil prices jumped to a nine-month high above $105 a barrel on Monday after Iran said it halted crude exports to Britain and France in an escalation of a dispute over the Middle Eastern country’s nuclear program. By early afternoon in Europe, benchmark March crude was up $1.91 to $105.15 per barrel in electronic trading on the New York Mercantile Exchange. Earlier in the day, it rose to $105.21, the highest since May. The contract rose 93 cents to settle at $103.24 per barrel in New York on Friday. Markets in the United States are closed Monday for the Presidents Day holiday.

Iran’s oil ministry said Sunday it stopped crude shipments to British and French companies in an apparent pre-emptive blow against the European Union after the bloc imposed sanctions on Iran’s crucial fuel exports. They include a freeze of the country’s central bank assets and an oil embargo set to begin in July.

Iran’s Oil Minister Rostam Qassemi had warned earlier this month that Tehran could cut off oil exports to “hostile” European nations. The 27-nation EU accounts for about 18 percent of Iran’s oil exports.

The House of Representatives has passed a bill to increase domestic energy supplies, including development of a vast new source in the oil shale deposits of the American West. The American Farm Bureau Federation says this bill will help provide the type of energy solutions America needs.

AFBF President Bob Stallman says the bill would end bureaucratic delays facing development of oil shale resources and direct the Interior Department to move ahead with a leasing program. It also allows for the development and recovery of new energy resources in the Outer Continental Shelf, and will open less than 3 percent of the Arctic National Wildlife Refuge to responsible energy development.

Stallman says – supporting these components will strengthen U.S. energy security, create jobs, promote economic development and benefit America’s farmers and ranchers.  Farm Bureau’s long-standing policy is that the United States should pursue a policy of energy development to help strengthen national security and promote economic opportunity at home.

Source: NAFB News Service