Biden Pushed by Unions on ‘Skyrocketing’ Biofuel Mandate Costs

摘要

Labor leaders are pressing President Biden to waive a U.S. mandate to blend ethanol with gasoline in response to requests from governors, mayors and others.1. “Action is urgently needed to reduce the skyrocketing cost” of biofuel compliance credits “and preserve American union jobs,” labor union heads wrote in June 2 letter to Biden2. High prices for ethanol credits used to track blending compliance are slowing refinery upgrade projects that typically would employ thousands of workers: letter3. The credits, known as RINs, have more than doubled since the start of the year, and credits tracking ethanol blending traded Tuesday at all-time highs of $1.97, according to Jordan Fife,trading manager at BioUrja Trading LLC in Texas4. Biofuel advocates say refiners have option to invest in more blending infrastructure and generate their own RINs5. READ MORE: Justices Hint at Limits on Oil Refineries in Feud on Ethanol.