Reuters reveals Delta Air makes $350 million gamble as it lobbies Biden on fuel credits

Reuters broke the news that Delta Air Lines Inc has stopped buying the credits its oil refining arm needs to comply with U.S. biofuel laws, leaving it with a $346 million liability at the end of the first quarter, as it tries to persuade the White House to ease its obligations. The decision to suspend buying is a risky gamble by the airline as these credits hit record highs and Delta works to convince the White House to ease its obligations to comply with the U.S. Renewable Fuel Standard, sources said.