When we heard from Senator Chuck Grassley, yesterday, he was waiting to hear if President Trump was going to issue any directives concerning the Renewable Fuels Standard (RFS). We got word from the President yesterday afternoon.
Yesterday the White House put changes to the RFS on hold indefinitely. Industry leaders were hoping it would open the door to year-round E15 sales. However, the price in a trade off was high: Renewable Identification Numbers for exported Ethanol.
Because of the high price tag, Senator Chuck Grassley is happy that the deal was put on hold.
Grassley explains the trade off would have been a net loss for the ethanol industry.
Grassley says he just isn’t sure where Pruitt is going to come down any more.