President Trump meets with a group of 11 Republican senators on Thursday to discuss ways to fix the nation’s ethanol mandate to address oil refiners’ concerns that the program “isn’t working as intended,” according to the White House.
“President Trump will meet with senators today to discuss his commitment to the Renewable Fuel Standard and how to effectively address the program’s impact on independent refiners,” said White House spokeswoman Lindsay Walters.
The senators meeting with Trump are being led by Texas Sen. Ted Cruz. The rest of the group includes Sens. John Barrasso of Wyoming, Bill Cassidy of Louisiana, John Cornyn of Texas, Mike Lee of Utah, Jim Inhofe of Oklahoma, Jeff Flake of Arizona, Mike Enzi of Wyoming, Jim Lankford of Oklahoma, John Kennedy of Louisiana, and Pat Toomey of Pennsylvania.
The Environmental Protection Agency’s RFS program requires refiners to blend increasing amounts of ethanol and other biofuels into the nation’s diesel and gasoline supply.
The refiners want the administration to free them from the high cost of complying with the RFS by requiring them to purchase Renewable Identification Number credits, which are subject to volatility and price spikes. The rising cost of RINs is forcing some refiners to consider layoffs, and the industry wants the administration to endorse a policy that addresses those costs.
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