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RFS Changes on Hold

Submitted by on June 6, 2018 – 11:17 amNo Comment

by Kelsey Tamborrino (Politico’s Morning Energy)  ASSUME DEAL DEAD: Sen. Joni Ernst’s decision to lay into embattled EPA Administrator Scott Pruitt over his alleged about-face on ethanol appears to have paid off. Ernst spoke to President Donald Trump Tuesday night, she wrote on Twitter, and he “just assured me he ‘won’t sign a deal that’s bad for farmers!‘ Thank you, Mr. President!“ Ernst’s tweet came at the end of a day that began with her suggesting Trump may have cause to fire his embattled EPA chief, calling Pruitt “as swampy as you get.” It appeared to represent another victory for the farm team in the long-running corn-versus-oil showdown over the Renewable Fuel Standard. The White House had been preparing to unveil an RFS deal that would have expanded sales of E15 and reallocated some blending obligations EPA had waived, while also allowing biofuels exports to count toward compliance with the program in order to bring down compliance costs for refiners.

A source familiar with deliberations told Pro’s Eric Wolff the White House delayed the announcement after Ernst and fellow Iowan Chuck Grassley opposed the news that compliance credits for exported ethanol would be included. “Pres Trump helped farmers by rejecting bad ethanol deal. I appreciate. GREAT NEWS,” Grassley wrote in his own tweet Tuesday night. Read moreREAD MORE

Trump administration biofuels deal delayed indefinitely: sources (Reuters)

The Energy 202: Some Senate Republicans are skewering Scott Pruitt. And not because of Chick-fil-A (Washington Post)

Biofuel Policy Revision on Verge of Collapse, Sources Say (Bloomberg)

Ethanol Credits Decimated Ahead of Trump’s Expected Changes (Bloomberg)

White House biofuel deal would gut US ethanol demand, spark trade dispute: Senator Ernst (Platts)

Trump rejects RFS deal, fight for year-round E15 will continue (Ethanol Producer Magazine)

FARMER PRESSURE FORCES TRUMP BIOFUEL POLICY SUSPENSION; CREDIT PRICES JUMP (Successful Farming)

Trump scuttles ethanol policy deal, senators say (The Hill)

Trump’s move to please farmers on biofuels reform draws refinery union ire (Reuters)

Ted Cruz says imperiled biofuel overhaul plan is not dead (Bloomberg/Houston Chronicle)

Expected deal on ethanol blending sidelined (MRT)

Ethanol Policy Concerns for Corn Growers (Energy. AgWired.com)

PBF Energy Pulls Back On ‘Collapsing’ Biofuels Mandate Deal (Seeking Alpha)

Farmer Pressure Forces Trump Biofuel Policy Suspension  (NewsMax Finance)

Farmer pressure forces Trump biofuel policy suspension; credit prices jump (Reuters/Investing.com)

GOP Sen. Ernst says Pruitt “did lie” on ethanol pledge, is “undercutting” Trump (CBS News)

‘We love the farmers,’ Trump says after rejecting effort to weaken ethanol mandate (Omaha World Herald)

Daily on Energy: Trump assures GOP ethanol deal good for farmers (Washington Examiner)

White House Calls off RFS Deal — Trump Tells Iowa Lawmakers He Won’t Sign Deal That’s Bad for Farmers (DTN The Progressive Farmer)

Ethanol Blog — D6 RIN Values Gain on Delay in Changes to RFS Mandate  (DTN The Progressive Farmer)

Republicans lose patience with Scott Pruitt, but Trump doesn’t (Washington Examiner)

On Renewable Fuel, President Trump Must Not Reverse Course (Townhall)

Ethanol Policy Concerns for Corn Growers (Energy.AgWired.com; includes AUDIO)

Role of Biofuels in CSA Could Be Overshadowed by Disputes over RFS (North American Climate Smart Agriculture Alliance)

Skor to FEW: Battles ahead are tough, but we can win (Ethanol Producer Magazine)

FEW general session focuses on RVP and RIN waivers (Ethanol Producer Magazine)

Trump rejects RFS deal, fight for year-round E15 will continue (Ethanol Producer Magazine)

 

Excerpt from Reuters:  The American Petroleum Institute, which represents big oil and gas companies like Exxon Mobil and Chevron Corp, said it was pleased the reform deal collapsed because it would prefer a broader “comprehensive legislative reform.”

“Ethanol and oil & gas don’t see eye to eye on the RFS, but in this case we agree that it’s good news that this proposed deal collapsed,” said Frank Macchiarola, Group Director of Downstream and Industry Operations at API. READ MORE

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