POET officials have announced they are shutting down their 92 million gallon Cloverdale, Indiana ethanol plant due to the 31 small refiner waivers to the RFS granted by the EPA. POET CEO and Chairman Jeff Broin says the cut back is not only due to the ethanol demand destruction but also indicates a problem with a glut of grain that needs to be blended into ethanol.
He says his company is joining together with several biofuel groups to enlist Agriculture Secretary Sonny Perdue’s help in showing President Trump the destruction caused by these small refiner waivers.
Broin says if the RFS is run and managed properly it has the ability to enhance the economy of the Midwest which is driven by agriculture and renewable fuels.
Broin did not indicate when the Indiana plant would resume operations, only that the small refiner waiver exemption problem needs to be addressed.