U.S. Markets open in 4 hrs 19 mins

Iowa groups to create renewable fuels coalition

DES MOINES, Iowa (AP) -- Several Iowa businesses and organizations have joined together to create a coalition that will push for continued government support of renewable fuels including ethanol and biodiesel.

The Iowa RFS Coalition includes biotech giants DuPont, Monsanto, and Syngenta. In addition groups representing corn and soybean growers and farm equipment dealers have joined in the effort. The group's members also include the Iowa Biodiesel Board, Iowa Biotechnology Association, and the Iowa Farm Bureau Federation.

The coalition, in announcing its creation Monday, says the goal is to keep in place the federal government's Renewable Fuels Standard, a policy which requires an increasing amount of the nation's gasoline supply to include ethanol and biodiesel.

Critics from the oil industry and some food groups have lobbied to weaken or suspend the standard.