NEW YORK, N.Y. (Reuters) — American lawmakers spoke out last month against the potential use of U.S. Department of Agriculture funds to bail out refiners that are denied exemptions from the nation’s biofuel blending laws.
President Donald Trump’s administration is considering at least US$300 million in financial relief to refiners denied waivers from the U.S. Renewable Fuel Standard, which requires them to blend biofuel into their fuel or purchase credits. Five sources familiar with the matter told Reuters the money could come from the USDA.
Republican senator Chuck Grassley from Iowa said USDA funds were meant for struggling farmers.
“It’s not a surprise that Big Oil is looking elsewhere for government handouts,” said Grassley spokesperson Michael Zona.
