Trump administration considering $300 million in aid for oil refiners

The White House is considering $300 million dollars in aid for oil refiners that have been denied biofuel waivers.

It is unclear where the money will come from, but sources say that financial relief may be distributed from USDA funds. The money would cover losses from oil companies after a court ruled against blending exemptions in 2019.

Some oil companies say that instead of aid, the President should make it more affordable to blend biofuels into the fuel supply.

EPA Administrator, Andrew Wheeler had this to say: “That is actually outside of EPA, but at this point we got to get oil refiners and corn growers working more cooperatively together, because they should be allies in this. They’re both producing liquid fuel for automobiles, and the enemy to them should be the people that are pushing to do away with the internal combustion engine...If you don’t have a car to put ethanol or gasoline in, it’s not going to help either side...”

Ethanol groups and farmers argue waivers cut into demand for their product.