Lawmakers introduce legislation to help struggling refineries stay afloat

The EPA has denied 26 requests from refiners that would have excluded them from biofuel blending requirements under the Renewable Fuel Standard. The American Coalition for Ethanol is praising the Agency saying they applied the law correctly. The Renewable Fuels Association says the RFS is finally working as intended.

With those requirements ordered to stay in place, a group of lawmakers is looking to help refineries struggling to stay afloat.

The legislation would lower the cost of complying with biofuel blending mandates. According to Reuters, refiners could purchase biofuel credits at a fixed price but only if they cannot get them at cost-effective levels on the open market.

Refiners have said the costs to comply with the Renewable Fuels Standard mandates are too high but biofuel producers and corn farmers say that helps increase the market for their products.

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