Williams: Trump Should Work to End Renewable Fuel Standard

Business News/Analysis, Federal Litigation, Opinions, Policy

December 20, 2016

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by Tom Thoma and David Williams (Taxpayers Protection Alliance/Globe Gazette) … (Carl) Icahn’s proposal centers on the definition of “obligated parties,” which is the official government term for the entities required to blend in renewables. … Icahn didn’t launch this campaign out of the goodness of his heart. He wants a handout.

He’s a large investor in CVR Refining, a mid-size refinery that is an obligated party. The company has to spend hundreds of millions of dollars on credits, and its stock has plummeted 60 percent over the last three years.

Removing CVR from the obligated party definition would dramatically cut down on CVR’s expenses and net Icahn a massive windfall while those that invested to comply with the law are left in a less competitive position and the smaller companies are burdened with having to comply with the burdensome RFS.

Plus, this change would create new costs for taxpayers. Regulators would have to register and monitor at least 200 additional companies. And it would complicate what’s already a boondoggle. READ MORE

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