American Ethanol Trump Emphasises Support for American Biofules
President Donald Trump reiterated his support for the American ethanol industry in a letter he sent during the National Ethanol Conference.
Washington DC/USA — “Rest assured that your President and this administration value the importance of renewable fuels to America’s economy and to our energy independence,” Trump wrote in a letter to the attendees of the National Ethanol Conference in San Diego, last week, adding “As I emphasized throughout my campaign, renewable fuels are essential to America’s energy strategy.”
The letter cam amidst rumours that Trump's legislation could change the Renewable Fuel Standard — a law that calls for escalating amounts of ethanol and biodiesel. Billionaire Carl Icahn, a special adviser to Donald Trump and a skeptic of the U.S. ethanol mandate, is a fierce critic of the Renewable Fuel Standard. Petroleum refiners are required to blend renewable fuels like ethanol into U.S. gasoline as part of a 2007 energy law passed under President George W. Bush that sought to slow the pace of oil consumption and its carbon footprint. Icahn previously said the system of buying and selling biofuel blending credits was bankrupting smaller oil refiners.