White House Says No Changes to RFS
Reuters says the White House is denying a report that President Trump is about to issue an executive order aimed at changing the nation’s biofuels program. This comes after a statement from the Renewable Fuels Association saying a member of the Trump administration informed them an order was pending. News of the pending order and its subsequent denial threw turbulence into the energy and corn markets yesterday.
The RFA statement said they received a call from a Trump staffer informing them the order was imminent and would shift the burden of combining biofuels with gasoline away from refiners. The order would require companies farther down the supply chain to handle that. Refiners have long-requested the change, saying the requirement has hammered their profits. White House spokeswoman Kelly Love said yesterday, “there’s no ethanol executive order in the works.”
Growth Energy CEO Emily Skor issued a statement thanking the White House for putting a stop to the rumors of a pending executive order. Skor added, “The RFS and the point of obligation are working as intended and making sure consumers have a choice of fuel at the gas pump.” Iowa Republican Senator Chuck Grassley spoke with several White House sources and said yesterday, “There’s no reason to believe such an executive order is pending or imminent.”
Source; NAFB News