Trump Rejects Icahn-Backed Bid to Change Biofuel Mandate
- EPA echoes arguments of ethanol producers in rejecting change
- Refiners argued it’s unfair to require them to fulfill mandate
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The Trump administration is formally rejecting a bid to relieve refiners of their obligation to fulfill annual biofuel quotas, dealing a blow to billionaire investor Carl Icahn and oil companies that had sought the change.
The Environmental Protection Agency denied petitions by Valero Energy Corp. and other refiners to alter the U.S. biofuel mandate because it doesn’t believe the changes "would result in net overall benefits to the program," according to an 87-page posted on the agency’s website.