Icahn Sees Doubts About Ethanol Mandate Among Trump’s Advisers
by Mario Parker (Bloomberg) Icahn picked as special adviser to Trump on regulations; RINs market is a ‘black cesspool of trading,’ Icahn says — Billionaire Carl Icahn, a special adviser to Donald Trump and a skeptic of the U.S. ethanol mandate, said there are others on the president-elect’s team who have even deeper criticisms of the program.
Icahn repeated criticism of the credit trading program that regulators and refiners use to track compliance with federal biofuel consumption quotas. While he hasn’t expressed opposition to renewable fuel use, “there are people on the Trump team that believe ethanol itself does very little” in helping the environment, Icahn said Tuesday in a telephone interview, while declining to provide further details.
Icahn said this month that he helped Trump pick Oklahoma Attorney General Scott Pruitt to head the Environmental Protection Agency. Pruitt has criticized increased ethanol use.
Todd Becker, the chief executive officer of ethanol producer Green Plains Inc., on Tuesday dismissed Icahn’s complaints about the ethanol laws as being the result of a bad bet in the fuel market.
“These are complicated policies, and I don’t think you can just take one view of one person who’s on the wrong side of the trade to really reform a system that doesn’t need to be reformed today,” Becker said in an interview on Bloomberg Television. READ MORE (includes VIDEO)/ MORE and MORE (AutoBlog) and MORE (Christian Science Monitor) and MORE (Washington Examiner) and MORE (Quad City Times) and MORE (The Oklahoman) and MORE (Fox News)
Excerpt from AutoBlog: As for what the future might hold, let’s listen to what Trump said about his then-rival Ted Cruz in the Iowa caucuses, calling him out as a tool of the oil industry: “And look, I’m not really blaming him because he’s financed by oil people. The oil people don’t want ethanol, it’s very simple… Your ethanol business if Ted Cruz gets in will be wiped out within six months to a year. It’s gonna be gone.” Only now, instead of Cruz being controlled by oil interests, it’s Trump himself. READ MORE