Trump Administration Shocks Oil Industry With Biofuel Waiver Decision

After shocking the oil industry with last week’s extension to a coastal drilling ban offshore Florida, Georgia, and a handful of other states, the Trump Administration said on Monday that is has rejected nearly the vast majority of retroactive biofuel waiver petitions that were pending review, according to a Reuters report. Biofuel waivers are often given to oil refiners who are otherwise tasked with blending ethanol into their gasoline every year—or purchase tradable credits from refiners that blend with ethanol. Refiners—especially…