Ethanol Loses as Gas-Price Fears Prompt EPA Reevaluation

For months, lobbyists for refiners such as Valero Corp. and Exxon Mobil Corp. have warned that a U.S. law requiring increased use of ethanol would result in a mandate to add more of the fuel than they could safely blend into gasoline.

While that claim was mocked by executives at renewable fuel producers such as Poet LLC and a joint venture of BP Plc and DuPont Co., yesterday the refiners got their way.