Analysis: White House weighs inflation vs. farmers in new biofuel mandates – Reuters.com

Analysis: White House weighs inflation vs. farmers in new biofuel mandates – Reuters.com

May 16 (Reuters) - The White House is expected to announce in coming weeks the amount of biofuels like corn-based ethanol that U.S. refiners must blend into their fuel this year, a decision that will force it to weigh taming consumer inflation against supporting the nation's farmers.

How the administration balances the competing priorities could play a role in November's midterm elections, as high consumer prices pose a political threat to President Joe Biden's Democratic party and Farm Belt voters remain a crucial constituency.

The White House National Economic Council, led by Brian Deese, is pouring over numbers to gauge whether lowering blending mandates for ethanol and renewable diesel will help blunt rising food and fuel prices, according to two sources familiar with the process.