Oil Refiners And Farmers Battle Over Biofuels

5 Dec 2017   Biofuels

President Donald Trump has agreed to meet representatives of the U.S. oil refining industry and oil-supporting lawmakers to discuss the Renewable Fuel Standard Program—a meeting that could set the stage for negotiations over the U.S. biofuels policy that has been pitting the oil refining industry against the Midwest farm lobby. “The president was briefed, and has agreed on a meeting. Now it is just a matter of finding an hour window,” a source told Reuters last week, adding that he was told by the White House that the meeting would likely take place in the week of December 11. Under the Renewable Fuel Standard (RFS), oil refiners are required to blend growing amounts of renewable fuels into gasoline and diesel. The Midwest farm belt benefits from the policy, but the oil refiners do not—they lose petroleum-based market share of fuels and meeting the blending requirements costs them hundreds of […]

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