Home > News > Oil Industry Hopes for a Break on Their $1.6 Billion Credit Shortfall

U.S. oil refiners are nearing a $1.6 billion shortfall in credits they need to comply with U.S. biofuel laws, a signal that industry officials are hoping for reprieve from the Biden administration or a drop in prices. Last week Reuters offered insight with their report using corporate disclosures — the biggest liabilities are currently held by PBF Energy Inc, CVR Energy Inc, Par Pacific Holdings and Delta Airlines. President Joe Biden has communicated that they may work to grant oil refiners relief from their ethanol blend and or compliance credit mandates as the economic turmoil from the coronavirus pandemic hurt the fuel industry especially hard. Find out how this critical Supreme Court ruling could affect the exemptions.

Subscribe

Be among the first to learn about the ever-changing crop insurance industry by subscribing to the ProAgMessaging system.