Biden Could Revisit Renewable Fuel Mandate to Give Drivers Relief at Pumps
- Reduced blending obligations could drive fuel prices down
- Move could jeopardize climate efforts and spark farmers anger
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As U.S. President Joe Biden weighs alternatives to lower fuel prices, one move that could bring immediate relief at the pumps is sparking debate: adjusting the Bush-era renewable fuel mandate.
Drivers could see prices for gasoline fall if refiners were relieved from at least some of their obligation to blend biofuel into the U.S. fossil fuel supply. But such a move could also backfire, failing to slash costs and undermining one of the longest-standing U.S. policies to fight climate change, while at the same time sparking anger from the powerful agricultural lobby.