Trump calls meeting to discuss biofuels policy changes after PES bankruptcy

In Washington, D.C., President Trump is calling a meeting this Tuesday to talk about potential changes to biofuels policy after Pennsylvania-based refiner, Philadelphia Energy Solutions, blamed RFS and regulations for its bankruptcy last month. The meeting will include Republican Senators like Ted Cruz of Texas, Chuck Grassley and Joni Ernst of Iowa, as well as EPA Administrator Scott Pruitt, Agriculture Secretary Sonny Perdue, and potentially Energy Secretary Rick Perry, according to Reuters.

The meeting will focus on helping PES continue its operations and get rid of the $350 million that it owes EPA from its current RFS compliance costs. Talk about whether to cap prices for biofuel credits and whether to let higher ethanol blends to be sold all year are also on the agenda, according to Reuters.