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UPDATE 1-U.S. refiners reap big rewards from EPA biofuel waivers [Reuters]

PBF Energy Inc. Class A (PBF) 
Last pbf energy inc. class a earnings: 2/13 06:30 am Check Earnings Report
US:NYSE Investor Relations: investors.pbfenergy.com
Company Research Source: Reuters
U.S. refiners reap big rewards from EPA biofuel waivers | Reuters 4 Min Read NEW YORK (Reuters) - The U.S. Environmental Protection Agency’s expanded use of waivers to free small refineries from the nation’s biofuels law has saved the industry as a whole hundreds of millions of dollars, according to a Reuters review of public filings. Dozens of refineries have received the financial hardship waivers from EPA in recent months, meaning they no longer have to earn or purchase blending credits known as RINs. They can also sell any RINs they have on hand into the market, which helps other refiners by cutting market prices. Savings for the refining industry represent a win for President Donald Trump, whose administration has been under pressure from Valero Energy Corp, PBF Energy, and others to overhaul the U.S. Renewable Fuel Standard (RFS) to cut compliance costs. But the increase in waivers has incensed the U.S. corn lobby, which claims Trump’s EPA is undermining demand for biofuels such Show less Read more
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