Trump Announces Sweeping Changes to Biofuel Policy

The Trump administration will scale back the use of biofuels waivers for small refineries and count ethanol exports toward federal biofuels usage quotas as part of a broad overhaul of the nation’s renewable fuel policy, a source briefed on the plans said.

According to a report atReuters, the changes are aimed at easing tensions between the oil and corn industries, rivals that have been clashing for months over the future of the U.S. Renewable Fuel Standard - a law that requires refiners to add increasing amounts of biofuels into the nation’s gasoline and diesel.

A White House announcement is imminent, the source said, but did not have a timetable. Read the full reporthere.