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Spiking Gasoline and Food Costs Weigh on Biden Biofuel Plans

The administration is setting new biofuel-blending targets amid record inflation

Bloomberg business news
Biden Says Higher-Ethanol Gas Could Lower Prices
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Surging gasoline and food costs are weighing on the Biden administration as it prepares to set mandates for the use of renewable fuels.

Even under normal circumstances, the annual biofuel quota-setting exercise is fraught, forcing both Republican and Democratic presidents to navigate oft-competing refining and rural interests. This year, the challenge is intensified by climbing inflation, war-strained supplies of vegetable oils used to make green diesel and record-high gasoline prices that threaten the US economic recovery.