The U.S. Environmental Protection Agency is expected to release on Friday retroactive mandates for the volume of biofuels oil refiners were required to blend into their fuel for the years 2020 through 2022.
The mandates, typically set ahead of time each year, were delayed due to the fallout of the coronavirus pandemic which severely reduced U.S. energy demand.
The decision on the mandates involved White House staff, who have had to weigh how the policy could affect record-high gasoline prices, surging food costs and inflation, and Farm Belt constituents. Higher mandates can raise demand for corn and impose costs on fuel producers. The law has been a hotbed of controversy, typically pitting the powerful oil and corn lobbies against each other.
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