Trump to shift biofuel blending burden off U.S. refiners: sources

[DonViejo]

Source: Reuters



Tue Feb 28, 2017 | 1:03pm EST

By Chris Prentice
U.S. President Donald Trump intends to revamp the national biofuel program to ease regulations on oil refiners while providing new incentives for ethanol and biodiesel production, people familiar with the plan told Reuters on Tuesday.

The news sent corn prices and refinery shares up sharply and renewable credits plunging. It also drew sharp criticism from some ethanol groups who said Trump’s regulation adviser, billionaire investor and refinery owner Carl Icahn, had engaged in self-dealing by pushing for the deal.

The head of the Renewable Fuels Association said the White House had informed him that Trump intends to sign an executive order shifting the obligation of blending biofuels into gasoline away from refiners and further down the supply chain “to position holders at the terminal.”

Refiners had long requested the change saying the country's biofuels program hits them with burdensome costs.

Read more: http://www.reuters.com/article/us-usa-trump-renewables-idUSKBN1671PD?il=0

[WhiteTara]

1. Carl Icahn, had engaged in self-dealing by pushing for the deal.

That's all these crap weasels ever do is self deal.

[yellowcanine]

2. Welcome to the Trump kleptocracy.

Where graft and corruption doth abound.

[WhiteTara]

3. We only thought Raygun's people were dirty

and corrupted. That was child's play and quaint.

[BumRushDaShow]

8. Carl Icahn - the guy who saved Drumpf's ass buying the Taj Mahal Casino in AC

http://www.pbs.org/newshour/rundown/new-owner-of-trumps-taj-mahal-wants-to-make-casino-great-again/

They finally took the damn name off the building last week - http://www.nj.com/atlantic/index.ssf/2017/02/trump_reportedly_removed_from_taj_mahal_casinos_bo.html

[jmowreader]

4. I thought they already blended the biofuels at the terminal!

The gasoline distributor a mile from my house has a big tank for the gasoline blendstock, a smaller tank for ethanol, a few little tanks for the additives for each brand of gasoline he delivers (the only difference between Shell gas, Exxon gas, Conoco gas and no-name gas is the additive package) and he mixes them before he drives out the gate to deliver the fuel.

[Dawson Leery]

5. Eliminate biofuel.

It is just another red state subsidy.

[Crash2Parties]

6. Ethanol 10% less MPG, greatly increased CO2! Uses land + water that could be for food or people.

It's a farm corporation entitlement.

[C Moon]

7. Those poor god damned billionaires are being burdened with biofuel costs.