EPA Ready to Scrap Biofuel Market Reform in Bid to Boost Ethanol

May 28, 2019, 7:43 PM

The EPA is poised to jettison proposed trading restrictions on a $5.2 billion market for biofuel compliance credits, casting aside changes sought by independent refiners complaining of hoarding and wild price swings.

The Environmental Protection Agency’s shift comes as the agency races to meet a May 31 rulemaking deadline amid pressure from large oil companies and fuel distributors that oppose the market overhaul. It was described by people familiar with the internal deliberations who asked not to be identified before a formal announcement.

The EPA had been considering numerous possible restrictions to the holding and trading of renewable identification numbers, ...

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