Oklahoma Farm Report masthead graphic with wheat on the left and cattle on the right.
Howdy Neighbors!
Ron Hays, Director of Farm and Ranch Programming, Radio Oklahoma Ag Network  |  2401 Exchange Ave, Suite F, Oklahoma City, Ok 73108  |  (405) 601-9211


Agricultural News

National Corn Growers Say Bankrupt Oil Refiner Made Bad Business Decisions- Ethanol Not to Blame for Their Demise Despite the Claims Made By Ted Cruz

Thu, 22 Feb 2018 05:50:19 CST

National Corn Growers Say Bankrupt Oil Refiner Made Bad Business Decisions- Ethanol Not to Blame for Their Demise Despite the Claims Made By Ted Cruz The following is a statement from North Dakota farmer Kevin Skunes, president of the National Corn Growers Association (NCGA), in response to Senator Cruz's remarks during the Philadelphia refinery (PES) town hall.

“While most refiners are reporting double digit profit increases, Philadelphia Energy Solutions has filed for bankruptcy protection because its investors put their interests ahead of their workers’ interests. It’s disingenuous for Senator Cruz to claim he’s looking out for refinery workers, when he’s really looking out for Wall Street investors who made bad business decisions yet ensured they got their payout first, putting refinery jobs at risk.

“Senator Cruz is right about one thing – this is not about pitting corn farmers and refinery workers against each other. Corn famers see refinery owners and investors failing to take responsibility for their poor business decisions. The Renewable Fuel Standard (RFS) works for consumers, union workers, farmers and our environment. Whether it’s the EPA, financial analysts or university experts, all confirm refiners are not facing a RINs price impact because they recover any costs through the price they receive for their refined products. Senator Cruz is trying to upend the RFS to address a non-existent problem and bail out refiners who opted not to invest in blending infrastructure, so they could blend renewable fuels and get biofuels credits for free.

“Corn farmers’ definition of a “win-win” is providing regulatory parity for E15, and higher blends of ethanol, which would increase the supply of RINs to lower RIN values, and improve transparency in the trading system. The only plan Senator Cruz has is to block the confirmation of Bill Northey, a well-qualified and much-needed leader at the Department of Agriculture, in order to undercut the successful, and beneficial Renewable Fuel Standard. “

To read more about the speech made by Seantor Cruz in Philadelphia, click here for a story from a local newspaper website.



WebReadyTM Powered by WireReady® NSI


Top Agricultural News

  • Wednesday Preopening Market Update with Dave Lanning  Wed, 21 Mar 2018 06:59:30 CDT
  • Steer and Heifer Calves Lightly Tested Tuesday at OKC West Livestock Auction in El Reno, Okla.  Tue, 20 Mar 2018 15:35:08 CDT
  • Monsanto Working with Stakeholders to Ensure the Proper and Effective Use of Dicamba Products  Tue, 20 Mar 2018 15:30:00 CDT
  • Oklahoma Grain Elevator Cash Bids as of 2:00 p.m. Tuesday, March 20, 2018  Tue, 20 Mar 2018 14:25:01 CDT
  • Tuesday Market Wrap-Up with Justin Lewis  Tue, 20 Mar 2018 14:19:32 CDT
  • Tuesday Afternoon Market Wrap-Up with Carson Horn  Tue, 20 Mar 2018 14:17:32 CDT
  • Interagency Fuels and Fire Behavior Advisory Extended in Response to Persistant Dry Weather in OK  Tue, 20 Mar 2018 13:39:04 CDT
  • President of Northeastern Grocery Store Chain Underscores Beef's Important Role in Overall Sales  Tue, 20 Mar 2018 11:55:34 CDT

  • More Headlines...


    Ron salutes our daily email sponsors!

    Livestock Exchange Oklahoma Ag Credit Oklahoma Farm Bureau National Livestock Credit P&K Equipment Stillwater Milling American Farmers & Ranchers KIS FUTURES, INC. Oklahoma Cattlemen's Association Oklahoma City Farm Show

    Search OklahomaFarmReport.com

    Find more about Weather in Oklahoma City, OK

    © 2008-2018 Oklahoma Farm Report
    Email Ron   |   Newsletter Signup   |    Current Spots   |    Program Links

    WebReady powered by WireReady® Inc.