Trump to an­nounce pro-ethanol mea­sure : sources

Global Times US Edition - - BIZMARKETS -

US Pres­i­dent Don­ald Trump is ex­pected to an­nounce the lift­ing of a fed­eral ban on sum­mer sales of higher-ethanol blends of gaso­line on Tues­day ahead of a trip to Iowa the same day, ac­cord­ing to two sources fa­mil­iar with the plan­ning of the event.

The move, ex­pected some­time around 3 pm on Tues­day, is aimed at help­ing Repub­li­cans in com­pet­i­tive elec­tions in the coun­try’s farm belt. The lift­ing of the sum­mer ban on so- called E15 gaso­line is ex­pected to be cou­pled with re­stric­tions on trad­ing bio­fuel cred­its that un­der­pin the pro­gram, the sources said.

How­ever, it’s un­clear whether the re­stric­tions will be de­tailed or left up to the US En­vi­ron­men­tal Pro­tec­tion Agency to de­cide.

The Amer­i­can Petroleum In­sti­tute, the largest US oil group, op­poses lift­ing the ban, which will eat into the in­dus­try’s mar­ket share of gaso­line sales.

The US Re­new­able Fuel Stan­dard re­quires re­fin­ers to blend in­creas­ing amounts of bio­fu­els like ethanol into the fuel pool each year, or buy cred­its from com­peti­tors who do.

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