Trump faces dilemma as U.S. oil reels from record biofuels targets

This Jan. 28, 2015 photo shows some of the biomass refining equipment at the KiOR biofuel plant in Columbus, Miss. Two firms are buying the equipment that belonged to the plant, with a judge approving the sale of refining equipment to Iowa-based REG Synthetic Fuels, while Georgia Renewable Fuels says it's buying wood-processing equipment. (AP Photo/Rogelio V. Solis)By Chris Prentice NEW YORK (Reuters) – The Obama administration signed its final plan for renewable fuel use in the United States last week, leaving an oil industry reeling from the most aggressive biofuel targets yet as President-elect Donald Trump takes over. The Renewable Fuel Standard (RFS) program, signed into law by President George W. Bush, is one of the country’s most controversial energy policies. The policy was designed to cut greenhouse gas emissions, reduce U.S. reliance on oil imports and boost rural economies that provide the crops for biofuels.

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