PBF - Biofuel mandate -- announcement from Biden White House nearing

White House decision shaping food costs, fuel costs and refinery cost structure to come in days, according to Reuters sources Every year the White House, through the EPA, sets a "renewable fuel standard" ("RFS") for oil refiners and marketers, mandating the volume of ethanol and bio-diesel to be blended into the average gallon of fuel sold at the pump And every year the White House determines whether or not it will give exemptions to small, independent refiners, who are generally unable to blend biofuels themselves In determining the scale of the RFS, and the number of small refinery exemptions, the White House is able to impact the price of fuel, the price of food, and the cost structure for independent refineries To the last point, Credit Suisse has upgraded CVR Energy (NYSE:CVI) yesterday, as a significant reduction in the RFS could benefit CVR and other, similarly positioned refineries like PBF

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Biofuel mandate -- announcement from Biden White House nearing