May 8, 2018 / 5:18 PM / 19 days ago

Trump open to exported ethanol qualifying under biofuel laws -source

NEW YORK, May 8 (Reuters) - U.S. President Donald Trump told a group of Republican senators on Tuesday that he is considering allowing exported ethanol and other biofuels to count towards the annual volumes mandated by the Environmental Protection Agency, according to a source briefed on the discussions.

The president also backed off plans to put a price cap on compliance credits refiners must submit to the EPA and supports lifting restrictions on the sales of higher ethanol blends of gasoline, the source said.

Trump hosted a meeting with a group of senators and administration officials on Tuesday to outline a plan to help refiners with regulatory cost of the U.S. Renewable Fuel Standard (RFS) while boosting demand for corn-based ethanol. (Reporting By Jarrett Renshaw Editing by Marguerita Choy)

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