Trump Embraces Reform of Opaque Biofuel Credit Market
- Moves could block Wall Street banks from trading in credits
- Trump to announce support Tuesday for reforms, ethanol sales
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President Donald Trump is moving to clamp down on a scandal-plagued $2.25 billion market in biofuel compliance credits, embracing reforms that could block Wall Street banks from trading them.
Trump will direct his Environmental Protection Agency on Tuesday to pursue the changes as a way to quash manipulation and bolster transparency in the obscure Renewable Identification Number market, said a senior White House official. At the same time, Trump will order the EPA to take steps to enable the year-round sale of gasoline containing as much as 15 percent ethanol, according to the official, who discussed the planned announcement on the condition of anonymity.