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Stock impact report

Court forces U.S. EPA to reconsider three refinery biofuel waivers [Reuters]

CVR Energy Inc. (CVI) 
US:NYSE Investor Relations: investors.cvrenergy.com
Company Research Source: Reuters
Court forces U.S. EPA to reconsider three refinery biofuel waivers (Reuters) - A U.S. appeals court has ruled that the Environmental Protection Agency must reconsider three of the biofuel waivers it recently granted to small oil refineries, arguing the agency’s justification for approving the exemptions was flawed. The decisi here from the U.S. Court of Appeals for the 10th Circuit dated Jan. 24 came after a coalition of biofuel industry groups had challenged the 2016 exemptions for Holly Frontier's Woods Cross and Cheyenne refineries, as well as CVR Energy's Wynewood refinery. The biofuel industry has been incensed by a surge in biofuel waivers granted under President Donald Trump’s administration, which it says is hurting farmers by undermining demand for corn-based ethanol. Under the U.S. Renewable Fuel Standard, the nation’s oil refineries are required to blend billions of gallons of biofuels such as ethanol into the fuel or buy credits from those that do. But the EPA can waive th Show less Read more
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