According to Reuters, the Biden administration could change the nation’s biofuel blending law next year to offer lucrative credits to electric vehicle manufacturers like Tesla, a major rewrite that the oil industry criticizes as subsidizing the EV industry. The Renewable Fuel Standard, enacted in the mid-2000s, mandates the amount of biofuels like landfill or agricultural methane that oil refiners must blend into the nation’s fuel mix, or buy tradable credits – known as RINs – from those that do.
IL BIOECONOMISTA 