Biofuel plant at sunset
President Donald Trump found out how hard it is to bridge the competing interests of ethanol producers and oil refiners as a third White House biofuel meeting in four days ended with no agreement on how to change US policies.
The decade-old policy was meant to help farmers and reduce petroleum imports but has increasingly divided farmers and energy companies - two of Trump's most important constituencies.
The source said Trump told attendees at the White House meeting that he supported capping the price of biofuels blending credits that refiners must acquire to comply with the RFS, while also expanding ethanol sales by raising ethanol content in gasoline.
Prices for the credits - which refiners must either earn or, in the case of the Pennsylvania refiner, purchase - have surged, upending companies that in some cases are spending hundreds of millions on them.
"As discussions continue with the Administration, corn farmers thank President Trump and USDA Secretary Perdue for listening to farmers' views and supporting agriculture".
Gasoline with 15 percent ethanol is now restricted during summer because of concerns over smog.
Also expected to be at the meeting will be representatives of the industry, including ethanol producers POET and Green Plains, head of the EPA Scott Pruitt and refiners such as Delta airlines and Valero - the latter also being one of the country's biggest ethanol producers. Other than the Grassley tweet, there were no other comments immediately after the meeting.
"I hope I don't miss any votes, because I want to continue to represent the people of Iowa like I have for the 8,025 votes that I've cast in a row since 1993", he said, then ended the call.
"The bottom line is that these changes will come at the expense of Iowans and farmers across the heartland", Ernst said in a call with reporters to review the earlier White House meeting.
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"Take the deal, Joni", Trump said as he walked out of the room, according to the source.
Grassley also said he and Ernst have made it clear that a cap on RIN prices or a waiver credit for RINs would not be a win-win solution.
Cruz had held up the confirmation of Bill Northey, Trump's nominee for undersecretary for trade and foreign agricultural affairs at the Department of Agriculture, over the lawmaker's opposition to the RFS program.
In recent weeks, Senator Cruz has relentlessly attempted to blame the bankruptcy of the PES oil refinery on the price of RINs (Renewable Identification Numbers), the compliance mechanism for the RFS.
"The president very clearly understands that the path forward is to allow sales of E15 year-round, promote growth, and put more RINs on the market", said Emily Skor, chief executive of biofuels producer Growth Energy.
Grassley highlighted the political stakes in the meeting February 27, by spelling out the votes Trump received in corn- and soybean-growing Midwestern states, according to a person familiar with the discussion.
"For corn farmers, the question for the ongoing White House discussions is simple - what is the problem you are trying to solve?" said Skunes.
Biofuels supporters had hoped at the Tuesday meeting, also attended by EPA Administrator Scott Pruitt, to push for wider sales of E15, which the agency prohibits between June 1 and September 15 because the mixture has been found to contribute to summer smog pollution.
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