By Lauren Silva Laughlin
A battle between Big Corn and Big Oil is brewing, and U.S. President Joe Biden is in the middle. He is considering ways to provide relief to U.S. refiners, required to mix ethanol into fuel, Reuters reported on Friday. That could help refineries in his home state of Delaware, but it risks irking important constituents in Iowa.
The Renewable Fuel Standard mandating the oil blend has been a boon for the corn industry. Some 40% of U.S. corn is now used for ethanol production, according to the U.S. Department of Agriculture. But adding it, or buying credits to waive the requirement, is expensive.
Recently Delaware’s Governor John Carney stepped up pressure to reform the industry in an effort to help local businesses, according to Delaware Public Media here.Click here to see more...