President Trump will convene a large meeting of the largest oil refiners and ethanol companies in the country Thursday afternoon to discuss the direction of the nation’s renewable fuel mandate, the White House confirmed to the Washington Examiner.
“President Trump will sit down with Republican senators and industry stakeholders to discuss the Renewable Fuel Standard,” a White House official said. “He looks forward to a productive discussion.”
The Trump administration supports the Environmental Protection Agency’s Renewable Fuel Standard, but wants to hear from the industry’s CEOs on what the policy should be.
Trump heard from Republican Iowa Sens. Chuck Grassley and Joni Ernst from the pro-ethanol camp on Tuesday, where they entertained an idea put forth from Sens. Ted Cruz, R-Texas, and Pat Toomey, R-Pa. The Cruz proposal would cap the price of ethanol credits, or RINs, which refiners have complained are hurting their businesses.
The senators will be joining the president once again Thursday, but with a dozen CEOs in tow, including the head of Poet, one of the country’s largest ethanol companies, and Valero, the largest U.S. refiner.
Jeff Broin, the head of POET, and Todd Becker, CEO of Green Plains Renewable Energy, will be in the same room as Joe Gorder, CEO of Valero, Thomas Nimbley, CEO of refiner PBF Energy, and Jeff Warmann, CEO of Monroe Energy. Monroe and PBF have been vocal on a number of proposals to waive their commitments to the RFS.
The meeting also will include: Randy Howard, CEO of Renewable Energy Group, Inc.; Mike Irmen, director of Ethanol Marketing and Risk Management, the Andersons Inc.; Ryan O’Callaghan, president of United Steelworkers Local 10-1; Rick Schwarck, president and CEO of Absolute Energy; Bill Horan of West Iowa Energy; and Charlie Good, owner of Good & Quick Tire and Auto Service.
The meeting will begin at 2 p.m., the White House confirmed to the Washington Examiner.
