President Donald Trump has scheduled a meeting with cabinet officials and key senators to discuss potential changes to the nation’s biofuels policy.
The meeting comes as two powerful lobbying groups, the oil and ethanol industries, continue to clash over the future of the RFS. A Reuters report says Trump’s engagement on the issue may reflect the value of protecting jobs in a key electoral state. The meeting is scheduled for Tuesday. It will include several officials, such as oil-state Senator Ted Cruz (R-TX), as well as corn-state Senators Chuck Grassley (R-IA) and Joni Ernst (R-IA).
One source tells Reuters the meeting will focus on keeping Philadelphia Energy Solutions in business. The company is asking a bankruptcy judge to eliminate nearly $350 million of its current RFS compliance cost, which is owed to the Environmental Protection Agency (EPA). Another source says the discussions will consider capping the cost of biofuel credits and allow ethanol blends to be sold year-round.