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Many companies have complained about poor railroad service over the past couple years as the industry worked to recover from the depths of the pandemic. It, however, welcomed regulators establishing some clear minimum service standards for railroads that never existed before and requiring railroads to report more details about their performance. Getting the rule right is important because roughly 75% of refineries and petrochemical manufacturers are only served by a single railroad. Canadian regulators have long had similar rules that allow companies to hire other railroads to deliver their goods. The Canadian rules don't require companies to prove they are getting poor service like the proposed new U.S. rules.

Persons: Scott Jensen, Martin Oberman, ” Oberman, Rob Benedict, Benedict, Ian Jefferies, ” Jefferies, Jeremy Ferguson, ” Ferguson Organizations: — Companies, Surface Transportation, American Chemistry Council, Chemistry, American, and Petrochemical Manufacturers, Association of American Railroads, Transportation Division, International Association of, Rail, Transportation Workers Locations: OMAHA, Neb, U.S, North America, Canada, Mexico

March 14 (Reuters) - U.S. senators reintroduced a bipartisan bill on Tuesday that would allow nationwide sales of gasoline with a higher blend of ethanol year-round, as a second heavy-weight oil trade group appeared ready to back the idea. Year-round sales of E15 have been long sought by the biofuel industry and corn farmers, who would benefit from the increased market. The American Petroleum Institute (API), one of the largest U.S. oil trade groups, has supported the bill since it was introduced last autumn. On Tuesday, another top U.S. oil group, the American Fuel and Petrochemical Manufacturers (AFPM), signaled it could support a national standard. In response to their request, the EPA in early March proposed to allow year-round E15 sales in those states.

The Biden administration's November proposal would make it possible for electric vehicles charged using power generated by biofuels to receive credits. The proposal would boost benefits for electric vehicle manufacturers such as Tesla (TSLA.O). Adding the electric vehicle industry to the standard will introduce a new set of stakeholders into an already unwieldy situation. The United States has been using biofuel credits to reduce carbon emissions for years, but its effect has been unclear. The Environmental Protection Agency (EPA), which administers the program, will sort through stakeholder comments in 2023 to finalize a rule.

And a freight rail strike could cost the US economy $1 billion in its first week alone, according to a new analysis from the Anderson Economic Group. But that’s nothing compared to what would happen with a prolonged rail strike. CommutingOnly the nation’s freight rail lines face a pending strike, but commuters would likely be affected, too. Many commuter trains travel on tracks maintained and operated by the freight railroads and passenger railroads expect they’ll have to shut down their operations once the freight strike starts. Many commuter railroads also move over freight rail lines and could not operate if a strike was called.

☆ Biden is threatening a windfall tax on energy companies, after he slammed them for 'war profiteering'
▼ + stars: | 2022-11-01 | by ( Huileng Tan | ) www.businessinsider.com time to read: +4 min

US President Joe Biden called on energy companies to boost production or pay a windfall tax. He said energy companies will have to boost output and refining capacity or face the consequences. Biden said energy companies are entitled to a fair return for work or innovation, but the profits this time are "so high, it's hard to believe." "A windfall profit tax might make for good soundbites, but as policy, it's bad for consumers. Ben van Beurden, the CEO of UK-based Shell, seems to agree with the view that energy companies should pay higher taxes.

New York (CNN Business) The US economy can keep running without freight trains — but not for long. But a rail strike could send prices shooting higher again due to limited supplies. The National Retail Federation said last week it is concerned about shortages later this year if there is a rail strike. A rail strike would "devastate the movement of manufactured products that families depend on." CommutingAlthough only the nation's freight rail lines face a pending strike, many of the nation's commuter trains travel on tracks maintained and operated by the freight railroads.

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