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Thread: Is Trumpís America First Energy Policy Being Hijacked? (by Sen Grassley)

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    Is Trumpís America First Energy Policy Being Hijacked? (by Sen Grassley)

    edit to clarify:
    Article written by Ron Paul. Chuck Grassley (R-IA) is the one doing the hijacking.

    I believe this is the first time breitbart has ever published a story written by Ron Paul. In the past, they've always bashed him.

    Ron Paul: Is Trump’s America First Energy Policy Being Hijacked?
    By Ron Paul
    13 Jun 2018

    Whatever differences they may have with him aside, libertarians and free-market conservatives should be pleased with President Donald J. Trump’s support for reforming or repealing federal dictates that help foreign businesses and harm US workers. An example of this is the Renewable Fuel Standard (RFS).

    The RFS mandates that refineries create a set number of renewable fuel gallons each year. Although only the largest refineries are capable of blending ethanol into fuel themselves, all refiners are required to take part.

    The government measures compliance through each refineries’ holding of a satisfactory number of Renewable Identification Number (RINs) credits, which Washington assigns to each gallon of approved biofuel. The only recourse for the large percentage of small refiners that are incapable of blending themselves is purchasing surplus RINs credits from those who mix more than necessary.

    Unfortunately, speculators quickly buy surplus credits. This increases the credits’ price above what many small refiners can afford. As a result, refineries have had to look for other ways to meet the government’s ethanol mandate. For many, this has meant importing renewables from overseas.

    Fortunately, last month President Trump announced intent to level the foreign and domestic playing field and remove Wall Street’s stranglehold by attaching RINs credits to exported renewable fuel.

    While repeal of the entire ethanol mandate would have unquestionably been a better option, President Trump’s plan will still create a freer, more open marketplace. Not only will it generate over 1 billion more gallons of exported American fuel by removing red tape, but it will also prevent future refinery bankruptcies by increasing the supply – hence reducing the price – of RINs.

    While one would think supporters of the RFS would welcome President Trump’s decision to help refineries without repealing the ethanol mandate, last week Sen. Chuck Grassley (R-IA) succeeded in getting the White House to delay implementation of this reform measure.

    Sen. Grassley complains that “the Renewable Fuel Standard is to promote domestic production, not to subsidize exports of ethanol.” But President Trump’s proposal doesn’t subsidize anything. It simply ensures that federal mandates do not give other countries’ markets an unfair advantage over our own.

    If Sen. Grassley is truly concerned about subsidies, he should advocate for a complete end to the RFS. After all, the real subsidy here is not U.S. exports, but ethanol itself...

    Last edited by Valli6; 06-13-2018 at 04:04 PM.

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