US Attorney General issued subpoenas to find out Icahn’s role in RFS policy

November 8, 2017 |

In New York state, Bloomberg reports that the U.S. Attorney’s office for the Southern District of New York issued subpoenas to Icahn Enterprises as well as CVR Energy while Carl Icahn served as advisor to the president to secure information regarding his activities surrounding the Renewable Fuels Standard. CVR Energy saved about $60 million on RINs as a result of Icahn’s role after RINs fell when the market expected the RFS to shift in his favor. Between the election and August 2, his stake in CVR Energy increased by a third to $1.4 billion.

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Category: Policy

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