Trump urges oil and biofuel groups to reach consensus on biofuel policy

The initiative seeks to bridge the gap between two historically opposing sectors: Big Oil and the Farm Belt’s biofuel producers.

The Trump administration has called on oil producers and biofuel manufacturers to work together on a new biofuel policy.

With the aim to avoid political conflicts, the White House has convened at least two meetings so far, as reported by Reuters. During these meetings, stakeholders discussed pivotal issues, such as future mandated biofuel blending volumes, exemptions for small refiners, and biofuel tax policy.

The initiative seeks to bridge the gap between Big Oil and the Farm Belt’s biofuel producers, two powerful and historically opposing sectors.

These groups have long clashed over the Renewable Fuel Standard (RFS), a federal program mandating that billions of gallons of corn-based ethanol and other biofuels be blended into the U.S. fuel supply.

One of the central issues under discussion is the Environmental Protection Agency’s (EPA) upcoming blending mandates, which will set renewable fuel volumes for the next two to three years.