| Energy | Commodities | On the Move|
Trump promises 'giant package' for ethanol makers
Aug. 29, 2019 2:27 PM ET|About: Pacific Ethanol, Inc. (PEIX)|By: Carl Surran, SA News Editor
Ethanol producers trade mostly higher after Pres. Trump said he was planning a " giant package" that would please U.S. farmers angry that many more oil refiners have been granted waivers from using the fuel.
Among today's movers: PEIX +22.6%, REGI +3.9%, GPRE +3.5%, ADM+0.5%.
"Farmers are going to be so happy when they see what we are doing for ethanol, not even including the E-15, year around, which is already done," Trump said on Twitter, without offering specifics. "It will be a giant package, get ready!"
Secretary of Agriculture Sonny Perdue said yesterday that he favored strengthening U.S. infrastructure to allow more widespread use of E-15.
Meanwhile, CEOs of several major refiners urge the president not to move forward with proposed fixes to the Renewable Fuel Standard. arguing it is "simply untrue" that ethanol demand has been undermined by EPA waivers exempting some small refineries from biofuel-blending requirements.