May 11, 2018 / 5:18 PM / 2 months ago

Trump to soon propose sweeping changes to biofuel laws -source

May 11 (Reuters) - The Trump administration will soon propose sweeping changes to the nation’s biofuel laws that include expanding the program to ethanol exports and reducing the number of exemptions for the nation’s small refineries, a source briefed on the plans told Reuters on Friday.

The U.S. Renewable Fuel Standard (RFS) requires refiners to either blend biofuels like corn-based ethanol into the fuel pool or buy credits from those who do.

The Trump administration is in the “last stages” of formally proposing changes to the RFS after Trump spent the last few months trying to broker a deal between rivals in the corn and oil industries.

The White House did not immediately respond to request for comment. (Reporting by Jarrett Renshaw in New York Editing by Jeffrey Benkoe)

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