Reuters: U.S. energy markets cannot absorb the levels of biofuels required by law to be blended into the fuel supply in 2014, Environmental Protection Agency head Gina McCarthy said on Thursday, defending a controversial proposal to slash the target for this year. The EPA is working on final 2014 biofuel use targets after issuing a proposal in November that slashed federal requirements for ethanol in U.S. fuel supplies. Although it is under pressure from the biofuel industry to reverse the move changes,...