Trump's EPA Gives Sweetheart Deal To Billionaire Oil Buddy

43 596
8.7%
Published on 6 May 2018, 0:00
The EPA has given a biofuel waiver to billionaire Carl Icahn’s oil refinery. Kim Horcher, Hasan Piker, and Mark Thompson, the hosts of The Young Turks, break it down. tytnetwork.com/join

Tell us what you think in the comment section below.

Read more here: reuters.com/article/us-usa-bio...

“NEW YORK (Reuters) - The U.S. Environmental Protection Agency has granted a financial hardship waiver to an oil refinery owned by billionaire Carl Icahn, a former adviser to President Donald Trump, exempting the Oklahoma facility from requirements under a federal biofuels law, according to two industry sources briefed on the matter.

The waiver enables Icahn’s CVR Energy Inc (CVI.N) to avoid tens of millions of dollars in costs related to the U.S. Renewable Fuel Standard (RFS) program. The regulation is meant to cut air pollution, reduce petroleum imports and support corn farmers by requiring refiners to mix billions of gallons of biofuels into the nation’s gasoline and diesel each year.

The Small Refiners Coalition, which represents companies that operate small refining facilities, said the EPA is required by law to help small refineries struggling with these regulations and that such exemptions are crucial to their financial well-being. It applauded EPA Administrator Scott Pruitt for protecting small refineries, regardless of ownership, from the RFS requirements.

But the exemption for CVR’s Wynnewood, Oklahoma plant prompted criticism from a corn state lawmaker and the powerful corn lobby, which has already accused Trump’s EPA of overusing the hardship waiver program in a way that hurts demand for ethanol.”

Hosts: Kim Horcher, Hasan Piker, Mark Thompson

Cast: Kim Horcher, Hasan Piker, Mark Thompson

***

The Largest Online News Show in the World. Hosted by Cenk Uygur and Ana Kasparian. LIVE STREAMING weekdays 6-8pm ET. goo.gl/tJpj1m

Subscribe to The Young Turks on YouTube: goo.gl/a3JY9i

Like The Young Turks on Facebook: goo.gl/txrhrh

Follow The Young Turks on Twitter: goo.gl/w6ahdV

Buy TYT Merch: goo.gl/KVysaM

Download audio and video of the full two hour show on-demand + the members-only post game show by becoming a member at goo.gl/v8E64M. Your membership supports the day to day operations and is vital for our continued success and growth.

Young Turk (n), 1. Young progressive or insurgent member of an institution, movement, or political party. 2. A young person who rebels against authority or societal expectations.(American Heritage Dictionary)
newsautotechmusickids