Under pressure from U.S. lawmakers in farming states, President Donald Trump has abandoned an overhaul of biofuels policy aimed at reducing costs for the oil industry, sending U.S. renewable fuel credit prices soaring more than 40 percent on Wednesday. The White House had been poised to announce proposed changes to the U.S. Renewable Fuel Standard (RFS) this week after hosting months of difficult negotiations between representatives of Big Oil and Big Corn, but delayed the announcement indefinitely, two sources familiar with the matter said late on Tuesday. Trump abandoned the efforts on Tuesday after learning that farmers in the important Midwestern constituency were uneasy with part of the proposal, one of the sources said. This was confirmed to […]