Market News & Headlines >> Perdue: Trump to Announce Biofuels Plan

President Trump will likely announce a plan to mitigate the impact on biofuel demand from renewable fuel standard (RFA) waivers granted to oil refineries within the next couple of weeks, U.S. Secretary of Agriculture Sonny Perdue said on Wednesday. 

In a news conference on the sidelines of the Illinois Farm Progress show, Perdue said Trump would like to deliver the news to farmers himself and indicated the President could visit the state. 

Trump has scrambled Cabinet members to come up with a plan to boost biofuels demand in the wake of the U.S. Environmental Protection Agency's (EPA) Aug. 9 decision to grant 31 RFA waivers to small oil refineries, which caused an uproar among U.S. farmers, who say the waivers are destroying demand for ethanol.