Trump administration considering at least $300 million cash aid to refiners: sources

FILE PHOTO: U.S. President Donald Trump speaks during a campaign event in Phoenix, Arizona U.S., September 14, 2020. REUTERS/Jonathan Ernst

NEW YORK (Reuters) – The Trump administration is considering at least $300 million in cash aid to U.S. oil refiners that are denied exemptions to U.S. biofuel blending laws for the 2019 compliance year, two sources familiar with the matter said.

Although the administration has yet to rule on the 2019 waivers, it is considering basing the amount allocated on those who applied for exemptions. The move would aim to help refiners that must comply with U.S. laws requiring they blend biofuels into their fuel mix.

Reporting by Stephanie Kelly and Jarrett Renshaw; Editing by Chris Reese

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