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Report: Trump administration to offset refinery waivers with biofuel quota boost

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Report: Trump administration to offset refinery waivers with biofuel quota boost

President Donald Trump has tentatively agreed to a draft plan calling on the administration to offset three years of waived biofuel quotas, Bloomberg reported Sept. 13, citing people familiar with the matter. The waived quotas are tied to exemptions granted by U.S. Environmental Protection Agency to certain oil refineries, the report said.

According to Bloomberg, the plan comes along with other concessions from the administration in order to bolster demand for ethanol derived from corn.

If the deal is finalized, the administration could reallocate waived quotas beginning with 2020 targets, the report said.

However, the administration has a small window to get the changes on the books, since the EPA is legally obligated to finalize its 2020 biofuel-blending targets by Nov. 30, Bloomberg wrote, noting that any supplementary proposal after that point would have to be submitted for public comment first.