We are not accepting donations from people or companies in Florida due to unfair reporting requirements and fees not imposed by any other state.

Call to Action for a Truly Sustainable Renewable Future
August 8, 2013 – 5:07 pm | No Comment

-Include high octane/high ethanol Regular Grade fuel in EPA Tier 3 regulations.
-Use a dedicated, self-reducing non-renewable carbon user fee to fund renewable energy R&D.
-Start an Apollo-type program to bring New Ideas to sustainable biofuel and …

Read the full story »
Business News/Analysis

Federal Legislation

Political news and views from Capitol Hill.

More Coming Events

Conferences and Events List in Addition to Coming Events Carousel (above)

Original Writing, Opinions Advanced Biofuels USA

Sustainability

Home » Business News/Analysis, Federal Regulation, White House

Billionaire Carl Icahn Reaps $60 Million as Trump Adviser

Submitted by on May 25, 2017 – 6:00 pmNo Comment

by Mario Parker (Bloomberg/Southwest Farm Press)  Government work has paid off handsomely for billionaire Carl Icahn.  CVR Energy Inc., his oil refining company, saved about $60 million in the first quarter because of expectations that the federal government will ease a regulation involving renewable fuels, securities filings show.

It’s much more than a lucky break. As a “special regulatory adviser” to President Donald Trump, Icahn himself has been advocating the kind of relief that will benefit his company.

Icahn’s cost savings show how the Trump administration has let officials’ outside business interests influence policy decisions. Richard Painter, a University of Minnesota Law School professor and White House ethics counsel under President George W. Bush, calls Icahn’s role “a clear conflict of interest.”

Even before the magnitude of Icahn’s gain was known, a group of U S. Democratic lawmakers sent a letter to regulators urging them to investigate whether Icahn used his role as adviser to gain unfair trading advantages.

Other market forces may also be at work. Refiners have been blending record amounts of ethanol into gasoline this year, so there’s speculation that there will be more than enough to meet demand, according to Mark Broadbent, a senior research analyst who covers refiners at Wood Mackenzie in Houston.

The cost savings from the credits make up only part of Icahn’s recent winnings from CVR. In the six months since Trump’s Nov. 8 election win, the value of Icahn’s stake in the Texas refiner has increased by more than $600 million, to $1.6 billion.  READ MORE  and MORE (Washington Times) and MORE (The Inquirer/Philly.com)

Related Post

Tags: , , , , , ,

Leave a comment!

Add your comment below, or trackback from your own site. You can also subscribe to these comments via RSS.

Be nice. Keep it clean. Stay on topic. No spam.

You can use these tags:
<a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>

This is a Gravatar-enabled weblog. To get your own globally-recognized-avatar, please register at Gravatar.

This blog is kept spam free by WP-SpamFree.