Another renewable fuel plant closes as Iowa leaders wait for White House biofuels fix [View all]
An Iowa biodiesel plant announced Tuesday it's shutting down as Gov. Kim Reynolds warned that federal waivers exempting oil companies from using renewable fuels are hurting the state's rural economy.
"We continue to see farmers that are impacted," Reynolds said at a weekly meeting with reporters. "We continue to see ethanol plants that are being idled.
"They're burning through their cash reserves," the Republican said.
Reynolds met with President Donald Trump, along with U.S. Sens. Chuck Grassley and Joni Ernst of Iowa and other Midwest Republican leaders nearly two weeks ago to discuss harm biofuels producers and farmers are experiencing.
Roy Strom, CEO of W2 Fuel, said Tuesday he is closing the company's 10-million gallon biodiesel plant in Crawfordsville in southeast Iowa, along with a plant in Michigan, given growing losses.
Read more: https://www.desmoinesregister.com/story/money/agriculture/2019/09/24/another-renewable-fuel-plant-closes-iowa-leaders-wait-biofuels-fix/2433255001/
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