WASHINGTON (Reuters) – The futures regulator acknowledged on Wednesday it will miss the January target for issuing a final rule on limiting the amount of contracts a trader can control in agricultural, energy and metals markets.
The U.S. Commodity Futures Trading Commission will also propose phasing in position limits, putting them first on the spot month and then deferred months or positions in all months combined. The CFTC will unveil the details of its plan on Thursday in its almost three-year crusade to prevent a repeat of the 2008 surge in commodity prices to record highs.
WASHINGTON, Dec 15 (Reuters) – The United States risks
major supply disruptions of rare earth metals used in clean
energy products unless it diversifies its sources of the
minerals, the Energy Department warns in a report due to be
released later on Wednesday.
The United States and other countries are worried that
China, which controls 97 percent of the world trade in rare
earth metals, will use those supplies as a political weapon and
cut back their export when it is in a dispute with another
country or to grow China’s clean energy technology sector.
WASHINGTON (Reuters) – Senator Dianne Feinstein said on Monday she will offer an amendment to a massive tax bill to cut the ethanol tax credit and import tariff to 36 cents a gallon each.
The current U.S. ethanol tax credit of 45 cents and the import tariff of 54 cents would be extended through 2011 under the tax bill. They will expire on December 31 unless the House and Senate agree to renew the biofuels supports.
WASHINGTON, Dec 13 (Reuters) – U.S. Senator Dianne
Feinstein said on Monday she will offer an amendment to a
massive tax bill to cut the ethanol tax credit and import
tariff to 36 cents a gallon each.
The current U.S. ethanol tax credit of 45 cents and the
import tariff of 54 cents would be extended through 2011 under
the tax bill. They will expire on Dec. 31 unless the House and
Senate agree to renew the biofuels supports.
WASHINGTON, Dec 8 (Reuters) – Representative Fred Upton was
selected by Republican lawmakers to head the powerful House Energy
and Commerce Committee when the new Congress convenes in January.
Republicans, who will take majority control of the House of
Representatives, have been critical of the Obama administration’s
energy policy for focusing too much on renewable energy sources
like wind and solar power and not enough to promote traditional
U.S. energy supplies like oil, nuclear and coal.
WASHINGTON (Reuters) – The Obama administration will announce on Wednesday that it will not allow drilling off the Atlantic Coast or off Florida in the eastern Gulf of Mexico as part of a new plan running from 2012 to 2017, an administration official told Reuters.
The new drilling plan reverses President Barack Obama’s pledge made last spring just before the BP oil spill to open areas to energy exploration off Florida and the Atlantic Coast, including Virginia waters.
WASHINGTON (Reuters) – A bipartisan group of U.S. senators called for an end to a tariff on ethanol imports and subsidies to ethanol blenders on Tuesday, saying the program is too expensive and increases dependency on foreign oil.
The ethanol industry is fighting to have a lame-duck Congress extend the tariff and subsidy for blending ethanol into gasoline before they expire at the end of December.
WASHINGTON (Reuters) – Ethanol sales in the United States are expected to rise to 13.95 billion gallons (54.27 billion liters) in 2011 from 12.95 billion gallons this year, the Environmental Protection Agency said on Monday.
The agency, in its annual setting of the renewable fuel standard, said ethanol and other renewable fuels must account for at least 8.01 percent of the motor fuels sold in 2011 at U.S. service stations to comply with a federal mandate.
WASHINGTON (Reuters) – The White House cleared the way for the Environmental Protection Agency to issue a final rule on how much ethanol and other renewable automobile fuels will be sold next year.
The EPA proposed in July that biofuels fuels would account for 7.95 percent of total gasoline sales next year to meet a congressional mandate that at least 13.95 billion gallons of renewable fuels be produced in 2011.
WASHINGTON (Reuters) – The Environmental Protection Agency will delay a decision that was expected in December on whether gasoline blended with up to 15 percent ethanol is safe for vehicles built during the 2001 to 2006 model years, a source familiar with the matter told Reuters on Friday.
The EPA wants up to one more month of testing on the effects of the so-called E15 gasoline on engines, according to the source, who did not want to be identified. The agency could announce as soon as Friday that it will delay its decision on E15 in older vehicles, the source said.