White House backpedals from $300M oil refinery bailout plan post gap-year decision

In Washington, Reuters reports the White House is backtracking from President Trump’s plans to use $300 million of USDA Commodity Credit Corporation funds to bail out the small refiners who weren’t granted gap-year SREs. There was significant backlash from the Midwest who said CCC funds are intended for farmers and not oil refiners. Even the oil industry was against the bailout plan, pushing instead for reform of the Renewable Fuel Standard rather than a one-off payment.