On Friday, the US Supreme Court made it easier for refineries to secure waivers for federal legislation demanding a minimum percentage of ethanol and other renewable fuels mixed into fossil fuels.
The ruling is a setback for the bioethanol producers in the US, reports Reuters. The same applies to subsuppliers like Novozymes, which makes enzymes use to convert plant material into the biofuel.
The court overturned another ruling that said federal authorities had no right to extend regulatory exemptions for refineries in Wyoming, Utah and Oklahoma.
Friday's ruling made a impact in US equity trading, with several bioethanol producers losing share value. For instance, Renewable Energy slid 3.7 percent and Par Pacific depreciated 2.2 percent.
English Edit: Daniel Frank Christensen
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