• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 2 days GREEN NEW DEAL = BLIZZARD OF LIES
  • 6 days They pay YOU to TAKE Natural Gas
  • 2 days How Far Have We Really Gotten With Alternative Energy
  • 2 days What fool thought this was a good idea...
  • 5 hours A question...
  • 5 days Why does this keep coming up? (The Renewable Energy Land Rush Could Threaten Food Security)
  • 11 days The United States produced more crude oil than any nation, at any time.
Michael Kern

Michael Kern

Michael Kern is a newswriter and editor at Safehaven.com and Oilprice.com, 

More Info

Premium Content

Will Trump Bail Out Struggling Refiners?

Texas Refinery

The Trump Administration’s biofuel boogie continues with a new plan to help ease the economic pains of refiners which have been denied waivers through a series of potential financial aid packages.

President Donald Trump has struggled with finding a healthy political balance in his measures to offset the financial burden felt by the Corn Belt and blue-collar oil industry workers since the global COVID-19 pandemic torn a hole in fuel demand back in March. Though the oil industry reeled, demand is starting to rebound somewhat, but the ethanol industry is still struggling. And so are refiners.

“The macroeconomic impacts of COVID-19 have resulted in suppressed international demand for refined products, like motor fuels and diesel,” wrote Texas Gov. Greg Abbott (R), Oklahoma Gov. Kevin Stitt (R), Utah Gov. Gary Herbert (R), Wyoming Gov. Mark Gordon (R) and Louisiana Gov. John Bel Edwards (D) in early May. Requirements to purchase ethanol “present[s] a clear threat to the industry under such circumstances,” they wrote.

This resulted in as many as 67 applications from refiners across the United States to be exempted from the obligations to blend biofuels. While many refiners were able to receive waivers to forego their blending requirements, a number of smaller refiners were denied, and they are feeling the full weight of the debate on their shoulders.

In the administration’s latest move to ease this fiscal shock to refiners, however, officials are now considering COVID-relief funding allotted to the Agriculture Department. With that, aid could be distributed to small refineries denied waivers from biofuel quotas.

Though it may seem like a major win for struggling refiners, there are a number of challenges that remain. Both from a legal and political standpoint.

The Environmental Protection Agency is currently working with the administration to create a plan, and though no specific number has been placed on the proposal just yet, refiners which have been denied waivers are at least feeling some cautious optimism as they finally garner some attention from lawmakers. 

By Michael Kern for Oilprice.com 

More Top Reads From Oilprice.com:


Download The Free Oilprice App Today

Back to homepage





Leave a comment

Leave a comment




EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News