In the first week of March, there were rumors that Carl Icahn, the owner of CVR Refining and unpaid advisor to President Donald Trump, had reached a deal to get an executive order to change up the Renewable Fuel Standard.
The rumored deal would shift the burden of meeting the standards of ethanol blends from the petroleum companies to the retailers across the nation. And started up a frenzy in the corn and soybean markets, two large biofuel providers.
Iowa Senator Chuck Grassley also heard the rumors, "And I inquired about whether such an executive order was going to be issued, and there was some satisfaction coming from the fact that I got back an answer that such an executive order was not going to be written up by the president of the United States."
A coalition of the nation's top biofuels advocates, united as Fuels America, rejects any move that would destabilize the Renewable Fuel Standard.
They also severed ties with the Renewable Fuels Association, which also had rumors circulating that a "deal" had been reached to allow that obligation change in order to fix what they call outdated EPA regulations limiting summer sale of ethanols.
Fuels America claim the Renewable Fuels Association elected to support Icahn and the petroleum industry.
In a press release, the Iowa Renewable Fuels Association say they also are firmly opposed to changing the obligation to the RFS and don't support any deal or negotiations that have been rumored. Saying that stance does not represent the views of its members.
Adding to change the point of obligation pulls the rug out from Iowa retailers.