U.S. merchant refiners have amassed up to a $1.6 billion shortfall in the credits they will need to comply with U.S. biofuel laws, according to a Reuters review of corporate disclosures, an apparent bet that the Biden administration could let them off the hook or that credit prices will fall. The big liability among companies including PBF Energy Inc (PBF.N) , CVR Energy Inc (CVI.N) , Par Pacific Holdings (PARR.N) and Delta Airlines (DAL.N) comes as the administration of President Joe Biden considers granting oil refiners relief from their biofuel mandates amid soaring credit costs and economic turmoil from the coronavirus pandemic that has hurt the fuel industry. “There is a sense among refiners that they have to do something right now,” said Robert Campbell, head of oil products research at Energy Aspects, referring to the decision among some companies to carry a […]