Aug 3, 2017

EPA to reject biofuels obligation away from refiners

Charlie Riedel / AP

The Environmental Protection Agency will reject a proposal to shift the point of obligation responsibility away from refining companies, per two "sources familiar with the matter," Reuters reports. The announcement will likely come in about two weeks, per Politico.

The losers: Oil refiners, which have said the requirement costs hundreds of millions of dollars. Plus, Trump's special advisor on regulation Carl Icahn, who holds a majority stake in oil refiner CVR Energy, and has been supporting the change.

Why it matters: This move to keep the policy as-is would represent a triumphant of majority opinion over that of a few influential voices, like Icahn. That's notable in an administration that's shown it doesn't necessarily always go with what the majority wants in policy areas.

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