Trump wants more corn in your gas tank
The measure from the Environmental Protection Agency would compel refiners to blend biofuels into diesel or gasoline
Win McNamee/Getty Images
The Trump administration may soon allow more corn in Americans' gas tanks.
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The measure from the Environmental Protection Agency would compel refiners to blend biofuels into diesel or gasoline. Those refiners would have to mix about 24.02 million gallons in 2026, a new record. It's a step to discourage foreign imports from reaching the sector.
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“We are creating a new system that benefits American farmers,” EPA Administrator Lee Zeldin said in a release. “We can no longer afford to continue with the same system where Americans pay for foreign competitors.”
Soybean oil prices jumped after the announcement. It leapt 6.3% during Friday's market trading.
Still, other aspects remained unclear, such as whether small refineries would be exempt from the quotas, given the sheer blending capacity that's necessary to meet the Trump-backed standard. The measure falls under the Renewable Fuel Standard program, which was set up by Congress two decades ago to help boost rural communities.
President Donald Trump's megabill that's currently in the Senate includes a four-year extension of a biofuel tax credit, known as 45Z. But it undoes most other green energy tax credits that were unilaterally approved by Democrats in 2022 under their Inflation Reduction Act.