Major Change Coming to RFS

Source: By ANTHONY ADRAGNA, Politico • Posted: Wednesday, March 1, 2017

MAJOR CHANGE COMING TO RFS: Trump’s administration plans to issue an executive order changing the Renewable Fuel Standard so that oil refiners would no longer be responsible for meeting the EPA biofuels mandates, leaving that job instead to gasoline wholesalers who supply fuel to retail outlets, Bob Dinneen, CEO of the Renewable Fuels Association, tells Pro’s Eric Wolff. That move is likely to be worth hundreds of millions of dollars to CVR Energy, a company owned by Trump regulation czar Carl Icahn.

POET, the world’s largest biofuel producer, blasted the “bailout” and “back-room deal” in a statement. “Bob Dinneen does not have the authority to negotiate on behalf of the biofuels industry, and Icahn does not have the authority to negotiate policy on behalf of the U.S. government,” POET CEO Jeff Broin said in a statement.