Govt Enforces ‘Melt and Pour’ Rule for All Steel in Public Projects Nippon Steel expected to finalize U.S. Steel acquisition at $55 per share NMDC Limited reports a 38% drop in Q4 FY24 consolidated net profit RINL to Raise $23 Million Through Land Sales Amid Crisis
The US government recently approved a request from Midwestern governors to sell gasoline with higher blends of ethanol, starting in 2025. This decision, reported by Reuters earlier, expands sales of E15 gasoline, containing 15% ethanol, which is currently restricted in summer due to environmental concerns. The move comes after years of lobbying by the corn-based ethanol industry for year-round E15 sales, with the governors believing it could lower pump prices by increasing fuel volumes.
Some oil refiners argue that allowing E15 in select states could lead to localised price spikes and supply issues. The delay in implementation, shifting to 2025, aligns with President Biden's goal to avoid potential price impacts until after the 2024 US presidential election, as Wisconsin and Minnesota, two battleground states, are affected. Inflation and the economy are key concerns for Biden's re-election campaign.
The Environmental Protection Agency (EPA) sent a final rule on the proposal to the White House in December, with an initial effective date of April 28, 2024. The new timeline delays this to April 28, 2025, reducing the risk of gasoline supply issues and price impacts for the 2024 summer driving season. The EPA did not comment on issuing a temporary waiver for E15 sales this summer, stating they will continue to monitor the situation and consult with the Department of Energy.
Also Read : Oil prices fall on US inflation concerns, demand outlook worries Trump Says He Doesn’t Want U.S. Steel to Go to Japan
The largest iron ore miner in the nation, NMDC, has set aside ₹50,000 crore for capital expenditures...
Mid Corporate 30-May-2024
About ₹12,900 crore has already been invested in the domestic steel sector under the PLI scheme for...
Announcement 14-Feb-2024
The mines ministry has noted that the Telangana administration has failed to auction any mineral blo...
Notification 17-Jun-2024
According to a cabinet statement, Adani Green Energy Ltd. of India and Sri Lanka have signed a 20-ye...
Business 07-May-2024
September futures for iron ore, the most traded on the Dalian Commodity Exchange, for the period Mar...
Ferrous 03-Apr-2024
Israel Aerospace Industries (IAI) has established an Indian subsidiary in New Delhi; IAI made the an...
Defence 28-Mar-2024