Update: White House Calls off Biofuels Meeting
(Agri-Pulse) Oil, biofuels interests were originally set to meet Monday morning. READ MORE
BIOFUELS WHITE HOUSE MEETING SCRAPPED: (Politico’s Morning Energy)
MONDAY WHITE HOUSE MEETING ON RFS CALLED OFF (Brownfield Ag News; includes AUDIO)
Ethanol Interests Shout Opposition to RIN Price Cap (Energy.AgWired.com; includes AUDIO and VIDEO)
Excerpts from Politico’s Morning Energy: A meeting planned for this morning at the White House to try to resolve the current impasse over the Renewable Fuel Standard today has been canceled, according to Rob Walter, director of federal advocacy for ethanol producer POET. Today’s meeting was to have included Jeff Broin, CEO of POET, who was to bring a plan intended to drive increased consumption of ethanol while lowering the cost of Renewable Identification Numbers for two years. Meanwhile, oil refiners had planned to offer a report by Charles River Associates arguing in favor of a waiver system to cap the price of biofuel credits. Read more.
Corn makes some noise: Reps. Rodney Davis (R-Ill.), Collin Peterson (D-Minn.), Kristi Noem (R-S.D.), and Dave Loebsack (D-Iowa), the co-chairs of the Congressional Biofuels Caucus, sent Trump a letter Friday asking him to “reject any changes to the Renewable Fuel Standard that would hurt the farm economy.” Ethanol supporters also held a rally in Nevada, Iowa this weekend aimed at sending a message to Trump to back the RFS.
OIL FALLS OUT OF LOVE WITH TRUMP: The administration’s steel tariffs are furthering a rift between the oil and gas industry and the president they hoped would bring in a new age of production. Between the tariffs, hostility toward NAFTA and fumbled efforts to lift restrictions on drilling, executives’ angst was on full display at CERAWeek, which concluded Friday, POLITICO’s Ben Lefebvre and Eric recap here. READ MORE
Excerpts from Energy.AgWired.com: (Good & Quick fuel retailer Charlie) Good and (Absolute Energy ethanol producer Rick) Schwarck described an “intense” meeting (on March 1) which included other biofuel representatives, oil refiner interests, Iowa Senators Grassley and Ernst, Senator Cruz of Texas and several cabinet members. The first part of the discussion revolved around allowing 15% ethanol blends to be sold year round by treating it the same as E10.
“If you allow us to sell (E15) year-round, nationwide, we’ll flood the market with RINs and price will take care of itself, and (the president) understood that,” said Good, noting that everyone in the room agreed that was a good idea.
“For 80 percent of the meeting, everybody agreed that it was good, good, good,” said Schwarck. But towards the end of the meeting, oil interests got more “vocal” and “abrupt” and “really ramped it up on us.”
Good says he got in the last word as he was leaving the room. “I said Mr. President…if you cap the RINs, it will gut the biofuels industry. And he said, I gotta have a deal, Charlie. And I said if you gotta have a deal, cap them at a buck 50,” said Good. “He’s a businessman and he wants to make a deal.” READ MORE