White House seeks to expand refinery exemptions to lower fuel prices

The White House is backing a plan to significantly expand the small refinery exemption program, a move intended to lower gasoline prices. Officials are discussing doubling the size of these exemptions from approximately 950 million to as many as 1.8 billion renewable fuel credits (RINs).

The proposal has triggered a backlash from a coalition of U.S. farm and biofuel groups, including the Renewable Fuels Association, Growth Energy, and the National Farmers Union. These groups argue that increased waivers would decimate demand for crops like corn and soybean oil, which are used to produce biofuels, thereby hurting rural economies.

A decision from the Environmental Protection Agency (EPA) regarding the exemptions is expected by the end of August.