The Environmental Protection Agency has proposed reducing the amount of biofuels that oil refiners are mandated to add to petroleum fuels in a bid to provide some breathing space to the refining industry amid demand damage and high prices. While it may seem that the move is a favor for the oil industry, the industry is not happy with it, Reuters has reported , adding that the biofuels industry is also unhappy, although for more obvious reasons. “This decision is an about-face by President Joe Biden who campaigned on his supposed support for renewable fuels,” said Senator Joni Ernst, a Republican from ethanol-producing major Iowa. The American Petroleum Institute, on the other hand, said the EPA “would best serve the public interest by keeping compliance volumes feasible.” The volumes in question were brought down in the proposal to 17.13 billion gallons for 2020 retroactively, from 20.09 billion gallons previously. […]