Refiners press Obama to lower renewable fuel mandate

Refiners are urging President Obama to scale back the amount of biofuel that must be blended into the nation’s fuel supply for 2014.

In a letter to Obama, refiners argue that increasing the amount of ethanol and other biofuels in the rule would increase gasoline prices, the Houston Chronicle reports.

{mosads}“Now is not the time to backtrack on a proposal to avoid economic disruption,” 31 refining executives said in the letter. “Technological and market limitations exist, and consumers — not the federal government — should determine what goes in their cars.”

The administration has signaled in recent months that the final levels for the renewable fuel mandate would be higher than those proposed last year. The final targets are currently under review at the White House Office of Management and Budget, and are 10 months past due.

The American Fuel and Petrochemical Manufacturers, Valero, Tesoro, and more were behind the letter sent to Obama.