Trump to Hit Refiners With Biofuels Boost
- Conventional renewable fuel target to match statutory cap
- Quotas come amid months of intense biofuel policy negotiations
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Refiners would have to blend 19.88 billion gallons of biofuels into petroleum next year under an administration proposal set to be unveiled Tuesday, as President Donald Trump tries to strike a balance between two competing constituencies.
The Environmental Protection Agency is set to maintain a 15 billion gallon quota for conventional renewable fuels such as corn-based ethanol, even as it gives a modest 3.1 percent increase to overall biofuel-blending requirements in the proposal set to be unveiled Tuesday. The proposed biofuel quotas are detailed in a document obtained by Bloomberg News.