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Can Corn and Oil Live Together?

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Oil-state Republican legislators met with President Trump on Thursday to discuss the Renewable Fuels Standard. They left with a directive from the president to figure out a compromise that would work out for both the oil and renewable fuels industries. Politico says Oklahoma Senator Jim Inhofe was one of the lawmakers who met with Trump. “The president wants us to come to him with something that’s going to make both sides happy, and I believe we can to it,” Inhofe says, “and I believe he thinks we can do it.” Inhofe and Senator John Cornyn of Texas have already begun working with corn-state senators on a possible compromise. In the meantime, Texas Senator Ted Cruz is still holding up the nomination of Bill Northey to a USDA post. It is a retaliatory move after corn-state senators killed an effort by the Environmental Protection Agency to weaken the Renewable Fuels Standard.

After the meeting with Trump, Cruz says he is optimistic they can find a fix to please all sides. He did not say if he would lift his hold on Northey’s nomination. EPA administrator Scott Pruitt says there may be some administrative actions available to help refiners cut some of the costs they face to stay in compliance with the RFS.

Source: NAFB News Service