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UPDATE 5-Trump backs compromise deal on biofuels policy -source [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: source | Reuters 4 Min Read NEW YORK (Reuters) - President Donald Trump told representatives of the rival oil and corn industries on Thursday that he supported changing U.S. biofuels policy in a way that would limit costs to refiners while expanding sales of ethanol, a source who attended the meeting told Reuters. The potential breakthrough comes amid rising concern in the White House over the state of the U.S. Renewable Fuel Standard, or RFS, a law requiring refiners to mix biofuels such as corn-based ethanol into their fuel that has increasingly divided two of Trump’s most important constituencies. The source said Trump told attendees at the White House 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. Prices for the blending credits have surged in recent years, upsetting refining companie [Read more]

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