EXCLUSIVE-Biden administration mulls big cuts to biofuel mandates in win for oil industry -document [Reuters]
PBF Energy Inc. Class A (PBF)
Last pbf energy inc. class a earnings: 2/13 06:30 am
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Source: Reuters
Signage is seen at the headquarters of the United States Environmental Protection Agency (EPA) in Washington, D.C., U.S., May 10, 2021. REUTERS/Andrew Kelly/File Photo NEW YORK, Sept 22 (Reuters) - The administration of U.S. President Joe Biden is considering big cuts to the nation's biofuel blending requirements, according to a document seen by Reuters, a move triggered by a broad decline in gasoline demand during the coronavirus pandemic. If adopted, the proposal would be a win for the oil industry, most notably PBF Energy (PBF.N) and CVR Energy (CVI.N) , which argues biofuel blending is costly. The cuts would anger ethanol producers such as Archer-Daniels-Midland Co (ADM.N) and the nation's corn farmers who produce the raw ingredients for ethanol - by far the most widely used biofuel. After Reuters reported the news, credits used to prove compliance with the requirements, called RINs , fell to $1 each, down from $1.07 in the previous session, traders said. Biden's Environmental Pro
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PBF
Earnings
- 2/15/24 - Miss
PBF
Sec Filings
- 3/27/24 - Form 4
- 3/27/24 - Form 4
- 3/26/24 - Form 144
- PBF's page on the SEC website