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6/18, 1:57 PM (Source: TeleTrader)
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White House mulls helping ethanol producers – report

President Donald Trump's administration is analyzing the possibility to enhance measures to increase the consumption of ethanol, the Wall Street Journal wrote on Tuesday, quoting unnamed insiders. He reportedly made the push after hearing from farmers in Iowa last week that the latest incentives introduced in the United States aren't sufficient.

There is an option to curb exemptions for refinery operators with smaller volumes from rules to mix the additive at set ratios with gasoline and diesel, the people with knowledge of the matter said. The simple alcohol compound is mostly produced from corn to be added to fuel. The US is by far the biggest producer and exporter of the grain.

A regulatory package adopted at the end of last month obligates traders to have 15% of ethanol in gasoline at all times while earlier it was eight months per year. The White House is facing backlash from agricultural producers as retaliatory import tariffs introduced by China and other countries with which the US is in a trade war with make their products more expensive in those markets. On the other hand, Trump has been pressuring oil producers worldwide and chiefly Saudi Arabia to pump more oil and drive fossil fuel prices down as the reelection campaign is gaining traction.

Breaking the News / IT