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White House meeting will look at RIN issue

Ag Secretary Sonny Perdue, speaking at the National Press Club on Tuesday.

The White House will host a meeting Wednesday with Congressional staffers representing both sides of the latest Renewable Fuel Standard (RFS) debate.

The discussion will reportedly focus on the concerns of oil-state senators, who say high RIN (Renewable Identification Number) prices are creating financial difficulties for some oil refiners.

In a speech Tuesday at the National Press Club in Washington, Ag Secretary Sonny Perdue said President Trump wants to help find a solution to the issue.

“The President understands that we’ve got to do something about RIN prices,” Perdue said. “The good news is, there’s a win-win in there. It’s very complex, but there’s a win-win.”

Perdue emphasized that the President remains committed to the RFS.

“But we’ve got to figure out and help resolve the RIN prices that some believe to be very speculative and a cornering on the market there, that have damaged the refiners,” he said.

The White House meeting will reportedly include staff from the offices of Senators Ted Cruz of Texas and Pat Toomey of Pennsylvania, both representing the oil-refining industry; and staffers for Senators Chuck Grassley and Joni Ernst of Iowa and Deb Fischer of Nebraska, representing corn/ethanol interests.

In a conference call with ag journalists on Tuesday, Grassley said that he has not talked directly to Cruz since Cruz’s recent meeting with Trump. A Grassley spokesman told Brownfield that because Cruz has not requested a meeting with Grassley “at this point”.

AUDIO: Excerpt from Secretary Perdue’s National Press Club comments

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