News

POET is cutting ethanol production; blames ‘oil bailouts’

The nation’s biggest ethanol producer, POET, is cutting back on production.

POET says it will idle its Cloverdale, Indiana plant and reduce output at half of its other facilities, with the largest drops taking place in Iowa and Ohio. The company says the production cutback will reduce its corn demand by 130 million bushels annually.

POET chairman and CEO Jeff Broin says the move was prompted by recent decisions by the Trump Administration regarding RFS Small Refinery Exemptions. Broin says the 31 new waivers have wiped out any near-term growth potential for year-round E15. He calls the waivers “bailouts to oil companies” and says the EPA has “robbed rural America”.

Broin says the granting of the waivers also brings into question “the President’s promises made to family farmers and rural communities”.

Link to POET news release

  • We need to come together as an ag community and let this guy no we no longer support his candidacy for president . Obama gave 10 sre while he was president this guy is up to 80 in his first term what are you going have left if he’s re-elected. Wak up he is not on our side . I’m tired of the lies

    • What is our side? Is our side the side that say’s it ok for beef from 21 different countries to be able to label their meat as product of USA? Is our side the side that complains about the social welfare programs at the same time taking cost share programs in the thousands.

    • All you have to do is look at Venezuela and you see what the left has to offer. I don’t know about you, but I still put my country first! Everything he has done has proved him right and I think in the long run, this will too.

Add Comment

Your email address will not be published.


 

Stay Up to Date

Subscribe for our newsletter today and receive relevant news straight to your inbox!