UPDATE 1-Trump administration close to finalizing biofuel deal -sources [Reuters]
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Source: Reuters
Trump administration close to finalizing biofuel deal: sources NEW YORK/WASHINGTON (Reuters) - The Trump administration is close to finalizing a deal that would boost U.S. biofuels consumption and is aiming to get it signed by President Donald Trump on Friday, two sources familiar with the matter said on Tuesday. The policy change is intended to assuage anger in U.S. farm country, a key political constituency for Trump, after the administration exempted 31 oil refineries in August from their obligations under the U.S. Renewable Fuel Standard - a law requiring that corn-based ethanol and other biofuels be blended into the nation’s fuel. Sources said the administration aims to announce the final deal next week and is unlikely to include a price cap for the biofuel blending credits that refiners must earn or purchase to comply with the RFS, a measure the oil industry was seeking as a concession in the biofuel deal. The White House was not immediately available for comment. An EPA represe
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