Trump calls meeting with Cabinet officials on biofuels policy: reports

Trump calls meeting with Cabinet officials on biofuels policy: reports
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President TrumpDonald John TrumpJoint Chiefs chairman denies report that US is planning to keep 1K troops in Syria Kansas Department of Transportation calls Trump 'delusional communist' on Twitter Trump has privately voiced skepticism about driverless cars: report MORE is organizing White House meetings with Cabinet officials about a federal biofuel mandate that a major refiner blamed for its bankruptcy, Bloomberg and Reuters report.

The first meeting on potential changes to the Environmental Protection Agency’s (EPA) Renewable Fuel Standard (RFS) will be Friday with EPA Administrator Scott PruittEdward (Scott) Scott PruittOvernight Energy: EPA moves to raise ethanol levels in gasoline | Dems look to counter White House climate council | Zinke cleared of allegations tied to special election EPA pushes forward plan to increase ethanol mix in gasoline Trump: The solitary executive MORE and Agriculture Secretary Sonny PerdueGeorge (Sonny) Ervin PerdueSenate buzz grows for Abrams after speech electrifies Dems Energy Secretary Rick Perry is designated survivor for 2019 State of the Union Live coverage: Trump delivers State of the Union MORE, Bloomberg said.

Trump will then meet Tuesday with those Cabinet officials and a handful of senators from both oil- and corn-heavy states who care about the policy, both news outlets report.

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The meetings come weeks after Philadelphia Energy Solutions (PES), the largest fuel refiner on the East Coast, declared bankruptcy, blaming compliance costs associated with the RFS.

The policy requires refiners to blend certain amounts of ethanol and other biofuels into their fossil fuels, or to buy credits on an open market.

PES, which doesn’t have blending facilities, said its costs for credits exceeded its payroll. But Reuters, and ethanol advocates, say other financial problems with the company caused the bankruptcy.

Trump’s meetings may focus on changes tailored to PES or may look at larger tweaks.

Sen. Ted CruzRafael (Ted) Edward CruzO'Rourke faces pressure from left on 'Medicare for all' O'Rourke not planning, but not ruling out big fundraisers O'Rourke: Being a white male not a disadvantage in 2020 Dem field MORE (R-Texas), who is expected to be at the Tuesday meeting, proposed capping the price for which the ethanol credits can be sold. That idea is opposed by ethanol companies, who say it would reduce incentives to produce the renewable fuel.