Trump faces dilemma as U.S. oil reels from record biofuels targets

29 Nov 2016   Biofuels

U.S. President-elect Donald Trump gestures from the front door at the main clubhouse at Trump National Golf Club in Bedminster, New Jersey, U.S., November 20, 2016. The Obama administration signed its final plan for renewable fuel use in the United States last week, leaving an oil industry reeling from the most aggressive biofuel targets yet as President-elect Donald Trump takes over. The Renewable Fuel Standard (RFS) program, signed into law by President George W. Bush, is one of the country’s most controversial energy policies. It requires energy firms to blend ethanol and biodiesel into gasoline and diesel. The policy was designed to cut greenhouse gas emissions, reduce U.S. reliance on oil imports and boost rural economies that provide the crops for biofuels. It has pitted two of Trump’s support bases against each other: Big Oil and Big Corn. The farming sector has lobbied hard for the maximum biofuel volumes […]

Tags:

Comments are closed.