Farm Groups Caution Against a Weaker RFS

A day ahead of a Tuesday meeting in the White House regarding the Renewable Fuels Standard, the National Farmers Union and five other prominent groups are urging President Trump to avoid changes that would weaken the RFS. The meeting brings together key lawmakers and Cabinet members to discuss the escalating tensions over the RFS between oil and ethanol interests. The farm groups sent the letter on how important a strong RFS is to rural America, which is coping with a severely depressed farm economy. NFU President Roger Johnson says, “We wanted to remind the president of the promises he made to farmers and rural communities as he meets with senior administration officials and lawmakers”. The letter also points out that as the rural economy continues to struggle, most oil refiners are experiencing an economic boom, as well as significant gains from recent tax changes. Recent claims from an east coast refiner that the RFS caused it to file for bankruptcy brought about the meeting on Tuesday. The letter from the farm groups points out that the bankruptcy is “the hallmark of poor business decisions and a willingness to put investor returns ahead of refinery jobs.”