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Automatic TRANSCRIPT

They see that there are a lot of opportunities for renewable energy development and or set is just the latest one. Let's finish up with ethanol for those who listened to last week's live episode. You'll recall that I asked Catherine, what her least favorite renewable energy sources, and she said, biofuels, how are you feeling about that one? Yeah, yeah. And and just to clarify, I used to be the co director of American bioenergy association, but I was working to try to promote cellulosic biofuels and that just has not happened. Everything we do still is Cornell and all not all biofuels are created equal. Absolutely. And that is not a. Blanket dislike of biofuels. I, I think that they're gonna play an important role in our fuel mix going forward. Probably pretty small, but still important. And as long as we can get to the next generation of Sola or maybe even, you know, algae based biofuels. But we've talked about the problems in that sector enough to know that we're not there and probably not close. So you know, America has this tortured relationship with biofuels. There are domestic resource. They help farmers when we buy them. It's a good story. They are technically renewable, but conventional corn based ethanol is not sustainable in large quantities, and there are big questions over their ability to reduce greenhouse gas emissions. So I'm betting President Trump wasn't thinking about that nuanced picture. When this week he ordered the EPA to lift a summer ban on gasoline, mixed with fifteen percent ethanol. So let's talk about that ban and why it might be lifted, Catherine, what was likely on the. It's mind when he backed the biofuels industry in its push to allow year round e fifteen sales. Yes. So I don't think it has to do with his political philosophy about fuel. I think it had everything to do with chairman, Grassley getting cavenaugh onto the supreme court and Iowa is the number one state for ethanol. Explain who chairman Grassley is in his relationship to the industry and just help us understand that a little bit deeper. Yeah. He has been a total champion in Iowa for ethanol industry. They're the number one state followed by, but orders of magnitude followed by Nebraska, Illinois, Minnesota, Indiana, South Dakota. But I, oh, is the number one? Ethanol state. And I think there was a solid done for Grassley and that kind of push it over the edge because there were so much opposition from the fuel and petrochemical industries from Petroleum Institute and the enviros. So. So the folks that really cared about it or the corn growers, the renewable fuels association that the those biofuels folks that wanted this to be extended all year and there there's some real environmental issues around doing that, expanding it to make sure that it that it can also be sold in the summer because of ground level, ozone issues associated with the summer months. Yeah, let's walk back to the context of it. So the renewable fuel standard was created in two thousand five, and we created standards for blending ten percent ethanol with gasoline. There's this higher mix, fifteen percent ethanol with gasoline. Very popular in the mid west, but the does not allow sales of e fifteen in the summer months. And there's I think, the as far as I can tell the research on this is inconclusive. There hasn't been enough research showing that e- fifteen increases air pollutants. It really the the concern is. Around like whether it does damage to engines and tail pipes and makes engines more inefficient and releases more predict. Particulate matter. Basically, environmental groups have been calling for more research on this, but I've kinda taken a skim of all the research, and I can't really tell that there's anything conclusive yet, but still those concerns over the increase in air pollution during summer months led to this blocking of e fifteen for a few months out of the year. Anything else we should know about like why this was in place and the battle around it. So the national renewable energy lab did a study that shows that seventy percent of current vehicles and forty percent of newer vehicles fail east fifteen compatibility tests. So those was vehicles can't even use it. This is really much more for farmers and farm equipment and and really for the commodity industry for the corn from oddity jigger your thoughts on this matter? Well, I'm thinking it's quite shock. Talking the, you know, Trump who hates bio-fuels literally said that on the campaign trail, Carl Icahn has biggest backer hates it even more because he owns refineries makes a full reversal here..