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ETHANOL RULES FUEL BIG GAINS FOR OIL FIRMS

Environmental regulations designed to boost the amount of ethanol blended into the U.S. gasoline supply inadvertently have become a multibillion-dollar windfall for some of the world’s biggest oil companies. Companies including Chevron Corp., Royal Dutch Shell PLC, and BP PLC could reap a total of more than $1 billion this year by selling the renewable fuel credits associated with the ethanol program, according to an analysis commissioned by CVR Energy, a refinery operator, as reported by the Wall Street Journal.

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