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Trump backs compromise deal on biofuels policy: sources [Reuters]

VALERO ENERGY (VLO)  More Company Research Source: Reuters
Last valero energy earnings: 7/26 06:37 am Check Earnings Report
US:NYSE Investor Relations: investorvalero.com
PDF Trump backs compromise deal on biofuels policy: sources | Reuters 3 Min Read NEW YORK (Reuters) - U.S. President Donald Trump told rivals from the oil and corn industry gathered at the White House on Thursday that he supports changing the nation’s biofuels policy in a way that would limit costs to refiners while also expanding sales of ethanol, a source who attended the meeting told Reuters. The apparent breakthrough comes amid rising concern in the White House over the current state of the U.S. Renewable Fuel Standard (RFS). The law, requiring refiners to mix biofuels such as corn-based ethanol into their fuel, has increasingly divided two of Trump’s most important constituencies. The source said Trump told attendees at Thursday’s meeting that he supported capping the price of biofuels blending credits that refiners must acquire to comply with the RFS, while also expanding ethanol sales by raising ethanol content in gasoline. A White House official did not immediately respond to a re [Read more]

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