The U.S. Renewable Fuel Standard, adopted in 2005, requires increasing volumes of biofuels like ethanol in the nation’s gasoline supply to boost U.S. agriculture, reduce pollution, and cut reliance on imports. The US Environmental Protection Agency is set to deal a blow to independent oil refineries , including Valero and BP , by rejecting a major overhaul of the US biofuels programme , according to Reuters . Independent refiners have lobbied for years to change requirements that refiners blend the fuels , a process which costs millions of dollars , while CVR majority stakeholder Carl Icahn tried to persuade US President Donald Trump to shift the point of obligation further down the US supply chain .
The US Environmental Protection Agency is set to deal a blow to independent oil refineries , including Valero and BP , by rejecting a major overhaul of the US biofuels programme , according to Reuters . Independent refiners have lobbied for years to change requirements that refiners blend the fuels , a process which costs millions of dollars , while CVR majority stakeholder Carl Icahn tried to persuade US President Donald Trump to shift the point of obligation further down the US supply chain .