Biofuels Caucus calls for USDA to fund biofuel industry support measures

In Washington, Representative Collin Peterson, Chairman of the House Agriculture Committee, led fellow members of the Biofuels Caucus in urging Agriculture Secretary Sonny Perdue to direct funding from the Coronavirus Aid, Relief, and Economic Security (CARES) Act to support the biofuels industry. Biofuels plants across the nation have idled production as stay at home orders reduce demand for fuel and the profitability of biofuels production.

As of late last week, Of the roughly 200 ethanol plants in the U.S., roughly 30 have shut down, and another 80 have reduced production by 50% or more. Biofuels plants consume millions of bushels of grain each year.

The USDA is expected to release details of a $15 billion bailout for agriculture this week.