Environmental Protection Agency chief Scott Pruit and Ag Secretary Sonny Perdue met with President Trump Monday and presented a package of potential changes to the Renewable Fuels Standard.
Politico reports the proposal is aimed at ending a squabble between corn farmers and oil refining firms over the program. The proposals include capping the price paid for biofuels credits, which are called Renewable Identification Numbers, as well as a year-round waiver for the sale of E-15 ethanol blends. Other ideas include creating credits for exported ethanol, as well as a transparency measure intended to cut Wall Street investors out of trading in the program.
All of these changes would be executed administratively, rather than through legislation. The pitch comes a day ahead of a meeting that Trump is scheduled to host with corn-state and oil-patch lawmakers. The guest list includes Senators Chuck Grassley and Joni Ernst of Iowa, Ted Cruz of Texas, and Pat Toomey of Pennsylvania, all of whom are Republicans. Chief of Staff John Kelly and National Economic Council Director Gary Cohn will also be there.