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 TrumpA better VA, with mental health services, is essential for America's veterans Pelosi, Nadler tangle on impeachment, contempt vote Trump arrives in Japan to kick off 4-day state visit 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 PruittOn The Money: Conservative blocks disaster relief bill | Trade high on agenda as Trump heads to Japan | Boeing reportedly faces SEC probe over 737 Max | Study finds CEO pay rising twice as fast as worker pay Overnight Energy: Democrats push EPA to collect 4K in 'excessive' Pruitt travel expenses | Greens angered over new rules for rocket fuel chemical | Inslee to join youth climate strikers in Las Vegas Democrats push EPA to collect 4K from Pruitt for 'excessive airfare expenses' MORE and Agriculture Secretary Sonny PerdueGeorge (Sonny) Ervin PerdueOn The Money: Senate passes disaster aid bill after deal with Trump | Trump to offer B aid package for farmers | House votes to boost retirement savings | Study says new tariffs to double costs for consumers Trump administration announces B aid package for farmers hurt by trade war with China USDA relocates expert economists, researchers who challenge Trump policies: report 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 CruzOn The Money: Conservative blocks disaster relief bill | Trade high on agenda as Trump heads to Japan | Boeing reportedly faces SEC probe over 737 Max | Study finds CEO pay rising twice as fast as worker pay Conservative blocks House passage of disaster relief bill The Hill's Morning Report — After contentious week, Trump heads for Japan 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.