The reelection of Donald Trump as President of the U.S. has cast uncertainty over the future of energy markets, particularly those centered on alternative fuels. During his first administration, Trump's policies largely favored traditional fossil fuels, often at the expense of renewable energy initiatives. This report examines what a second Trump term could mean for the markets, policies, subsidies and future prospects of key sectors within the alternative fuels industry: ethanol, biodiesel, renewable diesel, SAF, electric vehicles and hydrogen.