The United States Department of Agriculture (USDA) provides $ 537 million in funding through the Higher Blends Incentive Incentive Program (HBIIP) for the North -American Biofuels’ infrastructure.

These HBIIP funds are being published for more than 540 projects in 29 states, the USDA said on Monday when it announced the movement.

HBIIP seeks to “expand the production of Domestic biofuels “ Like E15, E85 and B20 “helping the fuel stations install the bombs, storage containers and other necessary infrastructure necessary to provide biofuels to the bomb,” according to the department. The program goes back to 2020.

(J. David Ake/Getty Images/File)

USDA also said that HBIIP holds “to protect North -American Farmers From retaliation commercial practices, it diversifies the country’s energy supply, creates jobs and supports economic growth in rural communities. “”

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New projects that received approval after the President Donald Trump The post in January is among some of those who receive $ 537 million in subsidies, according to USDA.

“President Trump honors our commitment to farmers, livestock farmers and small businesses in America, especially here in Iowa, where corn and soybean producers are crucial to support the production of ethanol and biodiesel,” said USDA secretary, Brooke Rollins. “Through HBIIP, we will expand access to home and homemade fuels, which will increase good payment for workers’ Americans, restore rural prosperity and strengthen the energy security of our nation.”

President Donald Trump. (Jabin Botsford/Washington Post using Getty Images/File)

“We thank @Potus and @usda @secollings for recognizing the importance of low-cost renewable renewable fuels such as #etanol and advanced with infrastructure investment subsidies to extend the availability of #E15 and #E85 throughout the country,” said X.

The USDA also said that the release of funding is based on the order of the American Energy Executive Order that Trump signed on the day of the inauguration.

Biodiesel storage tanks are seen in a soy processing facility in Greenwood, Mississippi, on March 21, 2021. (Rory Doyle/Bloomberg through Getty Images)

Phil Flynn, an analyst of the Future Price group senior and a Fox Business collaborator, said Fox Business That he did not think that the USDA movement “will have a significant impact on domestic energy production” and that it was a “realization of the Trump administration that we need an energy policy of everything and in scope to meet the demand and that have diversified sources that can be added to the United States energy domain”.

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“The world has changed and those of energy space, as in oil and gas, no longer see biofuels as direct competition and find that they have found ways to work together in a more complex energy world,” he said.

He also said that farmers “need oil to plant and harvest” and that global oil demand and growth “can allow cooperation and profitability on both sides.”

The recently announced HBIIP funds could increase the production of domestic biofuels, according to Flynn.

The Administration of Energy Information (EIA) predicted in March that the production of fuel ethanol would amount to 1.05 million average barrels on average in 2025. For biodiesel, it was a projected average of 100,000 barrels daily.

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The combination of fuel of the ethanol will amount to 930,000 daily barrels on average this year, according to the EIA forecast.

Flynn said that “it could increase next year 10%.”

By 2024, the consumption of all types of biofuels rose to 1.31 million barrels a day, according to the EIA March report.