EPA Biofuel Trading Plan Would Hurt Banks, Buffett Truck Stops
- Proposal would slap restrictions on biofuel credit trading
- Plan may cut revenue for oil companies, Buffett’s truck stops
Photographer: Diego Giudice/Bloomberg
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A Trump administration plan to impose trading restrictions on biofuel credits would slash revenue for big oil companies and truck stops like those owned by Warren Buffett, while forcing Wall Street banks out of the market.
The draft proposal, now being reviewed by White House officials and set to be formally released by the Environmental Protection Agency as soon as this week, aims to quell wild price swings in credits that refiners use to prove they have satisfied annual government-mandated blending quotas for biofuels such as ethanol and biodiesel.