Biden to Cut Biofuel Targets in Blow to Agriculture Industry [Financial Post (Toronto, Ontario, Canada)]
HollyFrontier Corporation (HFC)
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Source: Financial Post
The U.S. Environmental Protection Agency on Tuesday will call for cutting biofuel-blending quotas retroactively for 2020, the people said, while outlining lower-than-expected targets for this year and a modest increase in 2022. U.S. announces diplomatic boycott of Beijing Winter Olympics Advertisement In a sign the Biden administration is trying to minimize disruption in both agriculture and oil sectors, the EPA also is set to soften the blow to ethanol producers by moving to reject bids by dozens of small refineries seeking waivers from 2019-2021 renewable fuel quotas, according to the people, who asked not to be named because the information isn't public. Advertisement Article content The biofuel requirements come as President Joe Biden battles gasoline prices now hovering around a seven-year high and inflationary pressures that threaten to undercut the U.S. economic recovery. The move follows months of deliberations over how to set the targets amid a pandemic-spurred d
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