- By Chris Prentice | NEW YORK NEW YORK The Obama administration signed its final plan for renewable fuel use in the United States last week, leaving an oil industry reeling from the most aggressive biofuel targets yet as President-elect Donald Trump takes over.The Renewable Fuel Standard (RFS) program, signed into law by President George W. Bush, is one of the country's most controversial energy policies.
- The farming sector has lobbied hard for the maximum biofuel volumes laid out in the law to be blended into gasoline motor fuels, while the oil industry argues that the program creates additional costs.Balancing oil and farm interests is likely to prove a challenge for Trump, who has promised to curtail regulations on the oil industry but is already being reminded by biofuels advocates of the importance of the program to the American Midwest, where he received strong support from voters on Nov. 8.
- It is unclear what Trump's plans for the program will be and his transition team did not respond to Reuters' requests for comment.Both camps are expecting an administration receptive to their demands, though both have expressed concern and uncertainty over Trump's plans for the program, according to experts, industry and political sources.
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