Trump’s EPA to Reject Icahn-Backed Tweak to Biofuel Program

The Trump administration is set to deal a blow to billionaire investor and presidential adviser Carl Icahn by rejecting his bid to relieve refiners of a burden to satisfy U.S. biofuel mandates, according to people briefed on the move. The Environmental Protection Agency is preparing to formally deny requests by Valero Energy Corp., Icahn’s CVR Energy Inc. and other oil companies to shift the compliance burden for using ethanol and other biofuels away from refiners, moving it to fuel blenders and other entities instead. The people asked not to be identified discussing the policy action before it was announced, possibly before the end of this week.-- More...