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Oil industry’s combat against electric vehicle agenda

by Bunkerist
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The oil industry is trying to ally with farmers and biofuel producers against initiatives in electric vehicles.

The effort to promote liquid fuels and tackle expected subsidies for electric vehicles points to the long-unseen petroleum industry’s unusual attempts to keep fossil fuels into the agenda with biofuel producers’ support.

The refining industry continues its attempts to find common ground with former rival biofuel producers. The oil industry and biofuel producers share a desire to provide a future for internal combustion engines in space projects.

Some US corn and biofuel industry lobbyists, who met in January, are planning to meet again in February to discuss the future of liquid fuels. The Renewable Fuels Association, a leading biofuels industry trade group, confirmed that it has been invited to attend the February meeting, but said it has not yet decided whether to attend because this issue is political. The National Corn Growers Association (NCGA) is considering whether to send staff to the February debate.

The industry’s effort to change the course of electric vehicle policy is facing adverse winds. California announced a ban on internal combustion engines by 2035, other US states are considering similar measures, and automaker General Motors announced on Thursday that it will be producing all-electric vehicles as off that time.

Sources say the biofuel and corn industry is reluctant to join the oil industry. It is not only because of the long-standing competition with refineries on this issue, but also because they don’t want to publicly oppose the new president’s energy policies.

The refining industry has been influential under former President Donald Trump, who wanted to support the oil and gas industry. Biden has pledged to limit the oil industry by imposing harsh emission limits, such as pausing new drilling leases on public land.

The oil industry believes that carbon emissions from fuel can be reduced by increasing the octane content, which makes gasoline burning cleaner.

Ethanol is also a popular octane booster. The US Renewable Fuel Standard currently recommends refineries blend biofuels such as ethanol into fuels. As a result, most gasoline sold in the United States contains about 10% ethanol. The biofuels industry is very persistent in keeping its role going.

While most Biofuel groups state that they do not plan to cooperate with the oil industry, this does not come as a surprise to the oil industry.

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