White House National Economic Council weighing inflation vs. ethanol blending

In Washington, Reuters reports the White House National Economic Council is weighing consumer inflation against campaign promises the Biden Administration made to farmers to support ethanol as it reviews biofuel blending levels for this year that will be announced sometime in the next few weeks. November elections will be crucial for the Democrats so keeping prices low and farmers happy are key but potentially conflicting priorities. When the Environmental Protection Agency sent its blending proposal to the White House for review in April, it sought to lower blending volumes for 2020 and 2021 retroactively but return to higher levels for 2022.