U.S. EPA to reject proposal to shift biofuel blending off refiners: sources

Reuters News
Posted: Aug 03, 2017 1:25 PM

WASHINGTON (Reuters) - The Environmental Protection Agency has decided to reject a proposal by billionaire investor Carl Icahn to overhaul the U.S. biofuels program in a way that shifts the responsibility for blending fuels away from oil refining companies, two sources familiar with the matter told Reuters on Thursday.

Icahn, a special adviser to President Donald Trump on regulation, had made the proposal with the support of independent oil refiners, that say the obligation to blend fuels costs them millions of dollars. Icahn owns a majority stake in independent refiner CVR Energy.

Politico was first to report the EPA's decision, citing a senior administration official who said it would be announced within two weeks.

(Reporting by David Sherpardson, Chris Prentice and Jarrett Renshaw; editing by G Crosse)