The meeting, requested by Texas Republican Senator Ted Cruz, offered no major breakthroughs regarding what Cruz wants to change in the RFS. Cruz told Politico he is still holding up the vote to confirm Northey, but touted “progress towards a productive solution” that he says would balance the needs of ethanol and oil refiners.
A source told Politico that Cruz’s staff said they want to reduce the price of biofuel credits but did not offer any “win-win” proposals to do so. Cruz is expected to propose a cap on RIN prices, but that’s an idea that RFS defenders say would go against the law’s intent.
A statement from Iowa Republican Senator Chuck Grassley’s office says: “There was an understanding expressed broadly in the meeting that any outcome can’t undermine the integrity of the RFS.”
From the National Association of Farm Broadcasting News Service.