President Donald Trump said on Thursday his administration is planning a 'giant package' related to ethanol that would please U.S. farmers angry ...
WASHINGTON/South Sioux City, NEBRASKA: President Donald Trump said on Thursday his administration is planning a"giant package" related to ethanol that would please U.S. farmers angry that many more oil refiners have been freed from obligations to use the corn-based fuel.
Trump did not offer details on what the"giant package" would contain. The E15 mentioned by Trump is a higher-ethanol blend of gasoline. If implemented by the administration, the move would help reinvigorate wavering support from some in the sector for Trump, they said. Trump last week directed Agriculture Secretary Sonny Perdue, EPA chief Andrew Wheeler and White House advisers to come up with a solution that would boost biofuel demand in the wake of the EPA waiver decision. Among the proposals was to ramp up biofuel blending quotas slightly, but there has been disagreement over when to apply the increase, sources said.
Thompson warned in a conference call that this would"raise the cost of compliance for refiners and raise the cost of fuel for consumers." He dismissed farmers' argument that waivers hurt biofuel demand, citing data from the U.S. Energy Information Administration showing ethanol consumption for the first five months of 2019 at its highest since at least 2010. The mandate was put in place in 2005.
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