Ethanol Credits Decimated as Trump Is Said to Unveil Changes

Ethanol consumption credits traded at more than 90 cents apiece when President Donald Trump was elected in November 2016. On June 4, they touched 18 cents, a five-year low, as his administration was expected to unveil changes to U.S. biofuels policy.

The credits, known in the biofuels industry as renewable identification numbers, or RINs, are purchased by oil refiners to prove they have satisfied government quotas for the blending ethanol in gasoline.

The Trump administration is set to announce planned policy changes that include efforts to temper costs for refiners while broadening the market for ethanol, people familiar with ...