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US Supreme Court Ruling on Biofuels Knocks Corn and Soybean Futures Prices

US Supreme Court Ruling on Biofuels Knocks Corn and Soybean Futures Prices
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Tesla vs Iowa: Is the Automaker Poised to Battle Farmers?

U S Supreme Court Hears Arguments In Renewable Fuel Standard Case

IPR file The U.S. Supreme Court heard arguments Tuesday in a case about exemptions to the Renewable Fuel Standard. The U.S. Supreme Court heard arguments Tuesday on how to interpret federal law requiring renewable fuels to be blended into the nation’s transportation fuel supply. The U.S. Environmental Protection Agency runs the Renewable Fuel Standard Program, which was created by Congress in 2005 and expanded in 2007. The RFS maintains that renewable fuels must be blended into transportation fuel. The volume of renewable fuels that is required to be blended into gasoline increases annually. At the start of the program, all small oil refineries had blanket exemptions from blending requirements. They could apply to extend an exemption and get one if they could prove financial struggles would result from complying with the RFS. The RFS considers any refinery that produces 75,000 or fewer barrels of crude oil per day to be a small refinery.

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