Next steps on biofuels: President Trump and top administration officials met with a group of GOP senators yesterday to discuss their concerns about the impact of the Renewable Fuel Standard on independent refiners.
According to multiple sources and press accounts . . .
- Trump urged them to work with midwestern, pro-ethanol senators to find common ground. "The president wants to see action fairly quickly," one source familiar with the meeting said.
- The source said that one idea in play is some kind of deal that would limit the cost to refiners of credits, called Renewable Identification Numbers, they purchase to comply with the RFS. This would be paired with development of ethanol infrastructure. Bloomberg has more on that here.
- E&E News, citing senators' post-meeting comments, reported that EPA could weigh administrative moves to ease the credit costs. Multiple sources confirmed to Axios that this idea surfaced at the meeting.
ANWR battle: Democrats are using the low revenues from Wednesday's Interior Department sale of leases in the National Petroleum Reserve-Alaska (which we looked at here) as a political weapon against the GOP effort to allow drilling in the Arctic National Wildlife Refuge.
Around a billion dollars in projected ANWR leasing revenue is baked into the GOP tax code overhaul. But in a letter yesterday to the Congressional Budget Office, top Democrats on the House Natural Resources Committee ask CBO to revisit the projection based on yesterday's NPR-A sale.