The Trump administration was on the verge of releasing a major change in U.S. biofuels policy, but a last minute political assault from corn states might have shelved the proposal indefinitely. The proposal was an effort to water down biofuels requirements while trying to prevent a full-blown outcry from corn country. Federal law requires oil refiners to blend ethanol into their fuel supply, an obligation refiners say is costly. For years, the policy remained unchanged, but the Trump administration cracked open the door to undermining the ethanol requirements to the enormous benefit of oil refiners. But the biofuels industries and politicians from corn states have revolted, blasting the EPA and the Trump administration for doing severe damage to their industries. The fight picked up pace earlier this year when Philadelphia Energy Solutions declared bankruptcy, citing burdensome costs for complying with ethanol purchases. Refiners either have to buy and blend […]