The Biden administration is likely to raise ethanol blending mandates for 2021 above its proposed figure in December to align with U.S. consumption, according to two sources briefed on the decision.
In December, the U.S. Environmental Protection Agency proposed that refiners blend 13.32 billion gallons of ethanol into the fuel pool, a move that angered farm-belt lawmakers and the industry who said it was too low.Register now for FREE unlimited access to Reuters.comA final decision has not yet been made, the sources said. The White House and the Environmental Protection Agency, which administers the mandates, did not immediately comment.
The meeting underscores the political implications of the upcoming decision, which will impact fuel and food prices amid a 40-year high in inflation rates. The rule has long been a point of contention between the powerful oil and corn lobbies. While the mandates have set up a multibillion-gallon market for corn farmers and ethanol producers, merchant refiners claim the requirements are costly and threaten to put them out of business.
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