EPA grants 1.76 billion biofuel exemptions

The U.S. Environmental Protection Agency (EPA) has granted 1.76 billion in biofuel exemptions to small refineries. This move follows a week of intense lobbying efforts from both the Farm Belt and the oil industry. While farmers express concerns regarding a potential decline in demand for biofuel crops, refiners are seeking relief from expensive blending mandates. The agency is currently evaluating the possibility of shifting these obligations to larger refinery operations.