POET plans to shut down its ethanol plant in Cloverdale, Indiana, blaming the recent Trump Administration decision to grant additional small refinery waivers. POET has reduced production at half of its biorefineries, with the largest cuts taking place in Iowa and Ohio. POET Chairman and CEO Jeff Broin said the oil industry is manipulating the EPA and using the Renewable Fuels Standard to destroy the demand for ethanol. Meanwhile, an EPA spokesperson said there is “zero evidence” the small refinery waivers have had a negative impact on U.S. ethanol industry.
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