More than two dozen small U.S. refineries are seeking waivers from the nation’s biofuels law, an unusually high number that reflects growing oil industry resistance to the program, according to sources familiar with the matter. Prices of the most popular renewable fuel credits dropped to 61 cents in early trading on Thursday following the Reuters report, a near eight-month low and down from 64 cents on Wednesday, traders said. The requests to the U.S. Environmental Protection Agency add pressure to the Trump administration to help an industry that claims the U.S. Renewable Fuel Standard (RFS) costs it billions of dollars a year by requiring refiners to blend increasing volumes of biofuels like ethanol into gasoline and diesel. While the White House and EPA have expressed concern for refiners and are mediating talks between representatives of the industry and the ethanol lobby, they have largely sided […]