UPDATE 1-Trump says ethanol exports could count toward U.S. biofuels quotas -sources [Reuters]
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Source: Reuters
Trump says ethanol exports could count toward U.S. biofuels quotas: sources | Reuters 4 Min Read NEW YORK (Reuters) - U.S. President Donald Trump said on Tuesday he is considering allowing exported ethanol to count towards the volumes mandated under the nation’s biofuels law, a move that could appease both Big Oil and Big Corn by cutting the refiners’ regulatory costs while propping up demand for corn. According to two sources briefed on the discussions with a group of Republican senators, Trump also reiterated his support for expanding sales of higher ethanol blends of gasoline and backed away from a proposal to cap the price of credits called RINs that refiners must acquire and turn into the government each year to prove compliance with the biofuels quotas. The proposed changes follow months of fractious negotiations between Big Corn and Big Oil over the future of the U.S. Renewable Fuel Standard (RFS) that requires biofuels to be added to gasoline and diesel, after refiners increas
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