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Monday White House meeting on RFS called off

 

The CEO of the American Coalition for Ethanol says the White House planned to hold a meeting Monday morning to determine if possible changes to the Renewable Fuel Standard are made.

On Friday, Brian Jennings told Brownfield the RIN cap will be a big part of the discussion.  “We know the meeting is Monday morning.  We know there are two representatives from oil refiners and two biofuel representatives.  We don’t have confirmation on who those people are, but the experts we have on the ground in Washington have told us that the RIN cap looks like it is a big part of the discussion.”  Since then, Agri-Pulse reports the meeting was called off.

Jennings, citing Washington sources close to the negotiations, says they will fight any changes to the RFS and probably win.

Greg Thompson is the president White Energy, an ethanol plant in northern Texas.  Thompson says he’s uneasy about what the administration will do.  “Our concern would be whether or not everyone will be well-prepared for that meeting, including USDA and other interested parties.”

Renewable fuels supporters argue a RIN/RVP tradeoff is unfair, with Thompson calling it ill-conceived.

He says capping RINs would slow down ethanol production and reduce corn prices by as much as 25 percent.

 

 

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