President has reportedly approved a plan to help increase ethanol demand for farmers, but he is being met with opposition from oil refinery chiefs.
the plan would increase the blending mandate by more than 10 percent—from 20 billion gallons to 22.4 billion.
"It is in our country's strategic interest to not be subject to fuel price shocks stemming from the activity of countries that would like to decimate the U.S.," referring to American Fuel and Petrochemical Manufacturers president and CEO, Chet Thompson, warned that increasing biofuel mandates would raise compliance costs for refiners and require extra biofuel imports., Thompson said:"Pursuing this plan jeopardizes the refining industry's support of the president and would undoubtedly raise fuel prices for consumers, neither of which would be good for the president going into next year's election.
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