Trump OKs 10% biofuel blending increase for 2020

In Washington, Reuters reports that President Trump has greenlighted a deal that will increase biofuel blending by 10% in 2020 following a series of meetings last week with biofuels and oil companies as well as legislators from key corn and oil states. The deal is likely to upset the oil industry who has pushed back against any increase in blending to compensate for demand destruction resulting from the Environmental Protection Agency’s approval of 31 hardship waivers for small refiners.