As the Environmental Protection Agency announced it's extending the comment period on E15, the ethanol industry is scrambling to protect its investment and remain relevant.
Last year, a spike in energy and corn prices caused havoc in the market. With the subsequent collapse of commodity prices, many producers found themselves unable to pay their bills, according to a report on MarketWatch.com.
It is now pushing a rule that, if approved by the EPA, would raise the amount of ethanol that must be blended into gasoline from 10 percent to 15 percent.
The boating industry, among other stakeholders, is against this measure, saying it harms marine engines and that no tests on the impact of E15 have been conducted. So far, more than 25,000 industry stakeholders have sent comments to the EPA against its use, according to the National Marine Manufacturers Association.
The EPA last Friday announced it was extending the comment period to July 20. The agency says it is required to make a decision by Dec. 1.
Click here for an article on the ethanol industry's woes and why it is pushing for the increase to E15.