RFA Board of Directors Meeting JW Marriott Hill Country San Antonio, TX January 10 ‐ 11, 2017
2017 RFA Board Meetings • April 25-26, 2017 Washington, DC • July 18-19, 2017 Washington, DC • October 4-5, 2017 West Des Moines, IA
Reception at the Golf Club sponsored by
Anti-Trust Statement Anti-Trust Statement It is the policy of the RFA and the responsibility of every RFA member company to comply in all respects with federal and State antitrust laws. No activity or discussion at any the RFA meeting or other function may be engaged in for the purpose of bringing about any understanding or agreement among members to raise, lower, or stabilize prices; (b) regulate production; (c) allocate markets; (d) encourage boycotts; (e) foster unfair trade practices; (f) assist monopolization, or (g) in any way violate federal or State antitrust laws. Any questions regarding the meaning or applicability of this policy, as well as any concerns regarding activities or discussions at RFA meetings, should be promptly brought to the attention of the RFA President or General Counsel.
Treasurer Report • Bank Balance: As of November 30, 2016, the bank balance for the Renewable Fuels Association was $2,662,714.56. The 2nd quarter fiscal year 2017 producer member dues invoiced was $2,165,880.00 and of that $180,900.00 has been collected Producer Member Dues: Dues invoiced for producer members for 1 st and 2 nd quarter • fiscal year 2017 totaled $4,291,260.00. As of December 21 st , 2016 we have collected $1,850,900.00. Amount outstanding 1 st and 2 nd quarter fiscal year 2017 is $2,440,360.00. • Associate Member Dues: Dues invoiced for associate members totaled $506,000 for fiscal year 2017. As of December 21 st , 2016, we have collected $164,000. Amount outstanding is $342,000 for fiscal year 2017. • Expenses: The Annual Budget for expenses for fiscal year 2017 is $6,925,150.00. Through November 30, 2016 the expenses of $823,199.06 are 12% of the total annual budget for fiscal year 2017. • Monthly expenditures for November 2016 were $372,831.58.
President’s Report
Counties that flipped from Obama in 2012 to Trump in 2016 These 218 counties voted for President Obama in 2012, but “flipped” and voted for President-Elect Trump in 2016. The counties were pivotal in helping Trump secure electoral votes from Iowa, Wisconsin, Michigan, Ohio, and Pennsylvania—all states that voted for Obama in 2012. Source : FEC; AP; NPR
Counties that flipped from Obama in 2012 to Trump in 2016 w ith at least 1 million bushels of corn production Corn farming is a major driver of employment and economic activity in many of the counties that flipped to Trump in 2016. Each of the 133 “swing counties” shown below produce at least 1 million bushels of corn yearly. Together, these counties produced 1.96 billion bushels of corn in 2015, nearly 15% of the nation’s crop. The corn produced by these “swing counties” in 2015 was valued at $7.1 billion. Source : RFA; USDA-NASS
Counties that flipped from Obama in 2012 to Trump in 2016 w ith at least one ethanol plant Corn ethanol production is also critical to the economies of many of the counties that flipped to Trump in 2016. Overall, 33 ethanol plants are located in 29 counties that swung to Trump. Each of these plants supports approximately 1,300 direct and indirect jobs. In 2015, the 33 facilities in these “swing counties” made 2.9 billion gallons of ethanol, or almost 20% The ethanol produced of total U.S. ethanol production. by these “swing counties” in 2015 was valued at $4.7 billion. Source : RFA
Counties w ith at least one ethanol plant* : How did they vote? Trump (175) Clinton (9) Across the country, 184 counties are home to 205 ethanol plants.* Of the counties with ethanol plants, 175 (or 95%) voted for Trump. These 175 counties were responsible for 93% of total ethanol production in 2015. In 2016, 8 of the top 10 ethanol- producing states voted for Trump. In 2012, only 5 of the top 10 ethanol- producing states voted for the Republican candidate. *Excludes counties & plants with less than 8 MG annual capacity Source : RFA
The “Corn Belt”: Corn for grain production by county, 2015 Counties that voted for Trump produced 91% of the 2015 corn crop.
Trump Administration & 115 th Congress Outlook
Trump’s Cabinet Picks ? Ryan Zinke* ______ ______* Betsy Rick Perry* DeVos* Energy Education Interior Agriculture Secretary Wilbur Secretary Secretary Secretary Andrew F. Ross* Puzder* Commerce Secretary Labor Secretary Health and Human Secretary of Rex W. Services Secretary Tom Price* State Tillerson* Secretary of Transportation Secretary Veterans Affairs ? Attorney Secretary of Housing and Elaine L. General Urban Development ______ Chao* Treasury Defense _______* Secretary Homeland Security Secretary Secretary Dr. Ben Sen. Jeff 13 Carson* Steven Sessions* James N. John F. Mnuchin* Mattis* Kelly* Source: The New York Times; Tuesday, January 3,2016 8:54 AM *Requires Senate Confirmation
Trump’s Non ‐ Cabinet Appointees Reince Priebus Stephen Kellyanne Bannon Conway Michael T. Flynn Peter Navarro Chief White House Counselor Strategist National Chief of Staff Security Adviser Rep. Mike Trade Czar Pompeo* C.I.A. Director Carl Icahn Regulatory Czar Press Secretary White House Sean Spicer Counsel U.N. Ambassador Donald F. U.S. Trade EPA McGahn II Representative Administrator Homeland Small Business Nikki R. Security Adviser Administration Haley* Robert Lighthizer* Scott Pruitt* Thomas P. Linda 14 Source: The New York Times; Tuesday, January 3,2017 9:42 AM Bossert McMahon* *Requires Senate Confirmation
Repeal of Obama Administration Executive Orders specific to GHG reductions, decarbonization, and WOTUS Repeal and Replace U.S. healthcare policy Tax Reform Reset U.S. Trade Policy Update and Rebuild U.S. Infrastructure (roads, bridges, ports, airports, etc.) Reform U.S. Immigration Policy 15
Trump Energy & Environmental Policies ‘Midnigh ‘M idnight’ re regulations Likely to be overturned Lawsuits La uits re regard rding re regulations Likely to be All regulations that are not yet removed/overturned final are likely to receive a stop- work order. This happens every The Clean Power Plan, Clean Water time there is a change of Rule, ozone rule and fracking rule administration. Given Trump’s among others are currently under goal of reducing regulations litigation. Trump could direct the Justice overall, it is unlikely that any will Department to delay litigation or in other survive cases simply not appeal the decisions
Trump Energy & Environmental Policies Clean Cl ean Wa Water Rul Rule (W (Waters of of the the U. U.S.) Likely to be removed/overturned Clean Cl ean Po Power Pl Plan an The rule makes small waterways like wetlands Likely to be removed/overturned and ponds subject to federal rules. The rule is The Clean Power Plan has been put on hold in the Sixth Circuit Court of Appeals and will by the Supreme Court and the D.C. Circuit likely go to the Supreme Court unless Trump Court of Appeals is deciding whether to repeals it overturn it or not. If a decision does not come by inauguration day Trump’s Justice Pa Paris Cl Clim imate Agreem emen ent Department lawyers could ask for the case Withdrawing is possible to be dismissed and the EPA would undo the Trump has repeatedly vowed he will withdraw regulation from the deal, but the process of leaving will take four years. Republicans and the Trump campaign say it will be easy because the Senate has not ratified the agreement
Trump Energy & Environmental Policies Coal Coal in industry and and re regulations Regulations Likely to be removed Offs ffshore re oil oil and and ga gas Pr Protections Unlikely to be increased The moratorium on coal leasing will likely be removed. The final stream protection rule could Obama has designated many offshore locations also be revised. However, coal faces a that contain oil and gas as national monuments significant competitor in natural gas which and there are no provisions for Presidents to Trump plans to expand. revoke this status. Trump could get rid of a five- year plan for offshore leasing, but if Obama Ene Energy gy ex extraction fr from om pu public lic lands nds includes it in the Outer Continental Shelf Lands Likely to be increased Act there will be little Trump can do to include arctic waters in offshore leases Development of renewable energy on public lands will likely continue, but Trump wants to increase oil and gas exploration on public lands as well.
Trump & the RFS • Spoke positively about ethanol & RFS throughout campaign, visited plants • Transition Team continues to reiterate support • But … Appointment of Anti-RFS Cabinet and WH staff raises concern • Trump confirmed Pruitt’s support to Branstad • Republican Governor’s sent letter to Trump • Hill Advocates preparing to query nominees
POLICY TRUMP Trans ‐ Pacific Partnership (TPP) Against TPP and Concerned About Currency Manipulation Trade with China Proposed a Cease and Desist for Trade with China and Mexico Supports Congress Enforcing Sanctions on Countries Participating in Currency Free Trade Manipulation 20
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