REGI - Biofuel stocks sink after Supreme Court backs refineries in waiver dispute

Refiners including HollyFrontier ([[HFC]] +0.6%), CVR Energy  ([[CVI]] +4.3%) and PBF Energy ([[PBF]] +2.9%) move higher after the U.S. Supreme Court ruled the Environmental Protection Agency has wide latitude to exempt refineries from federal biofuel mandates.Biofuel names including Renewable Energy Group ([[REGI]] -6.2%), Green Plains ([[GPRE]] -3.4%) and Darling Ingredients ([[DAR]] -1.9%) turn sharply lower.The Supreme Court ruling overturned a lower court decision that had faulted the EPA for granting extensions to small oil refineries on waivers from the Clean Air Act's renewable fuel standard requirements even though the companies' prior exemptions had expired.Renewable fuel groups say the increase in waivers during the Trump administration had undercut the demand for their products by billions of dollars.

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Biofuel stocks sink after Supreme Court backs refineries in waiver dispute