The Biden administration will approve a request from a group of Midwest governors to allow year-round sales of gasoline with higher blends of ethanol, but will push the start date to 2025, Reuters reported Tuesday.
Under the plan, the administration would grant a 2022 request from the governors of Illinois, Iowa, Minnesota, Missouri, Nebraska, Ohio, South Dakota, and Wisconsin to allow year-round sales of E15 starting next year, according to the report, which also said the U.S. Environmental Protection Agency could issue a temporary waiver enabling such sales as needed in the meantime.
The one-year delay could put off any potential localized price spikes and supply issues the oil industry says could arise from the decision until after the U.S. election, according to the report.
The U.S. currently restricts sales of E15 gasoline in summer months due to environmental concerns over smog.
Potentially relevant stocks include Archer Daniels Midland (NYSE:ADM), Valero Energy (VLO), Green Plains (GPRE) (GPP), Rex American Resources (REX), Gevo (GEVO), Aemetis (AMTX), LyondellBasell (LYB), Exxon Mobil (XOM).
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