Economy

Ex-Trump adviser Carl Icahn subpoenaed over biofuel policy

Ex-Trump adviser Carl Icahn subpoenaed over biofuel policy”

(IEP.O) for information on its activities around the U.S. Renewable Fuel Standard, Icahn Enterprises said in an SEC filing on November 3.

Icahn is the majority owner of independent oil refiner CVR Energy Inc. and changes in energy polices could benefit him personally - as well as the investors of his company, Icahn Enterprises.

The filing said Icahn Enterprises was cooperating with the prosecutors' demand for information.

Icahn had been strongly criticized by Democrats, who said his advisory role created a conflict of interest because he took a formal government job while still running his business.

While offering no other information about the subpoena, the disclosure by Icahn Enterprises said it did not believe the inquiry would have a material impact on the business, its financial condition, operations results, or cash flow.

A spokeswoman for Acting U.S. Attorney Joon Kim in Manhattan declined to comment.

The Environmental Protection Agency, the USA bureau that overseas the Renewable Fuel Standard, last month said it would not pursue several changes to the program that would ease financial burdens for CVR Energy and other small refiners. Icahn's attorney did not respond to requests for comment. It was introduced by former President George W. Bush more than a decade ago as a way to reduce US energy imports, help USA farmers, and slash greenhouse gas emissions.

Federal prosecutors are looking into the role played by Carl C. Icahn, the billionaire investor, in advising the Trump administration on regulatory issues that had the potential to affect the finances of a company he owns.

After an uproar over the proposal, Icahn resigned his post as adviser in August.

"Contrary to the insinuations of a handful of your Democratic critics", Icahn wrote in his resignation letter, "I never had access to nonpublic information or profited from my position, nor do I believe that my role presented conflicts of interest".

The EPA has said it does not now believe shifting the blending responsibility off refiners is appropriate. CVR has been hurt by the Renewable Fuel Standard, which requires oil refiners to either blend their oil with renewable fuels or buy credits. "I don't talk to Donald that often", Icahn said.



Like this

Latest


09 November 2017
California NAACP wants 'The Star-Spangled Banner' removed as national anthem
There was at least one lawmaker, though, who opposed the NAACP's request. "We love the flag", Hoffman said. The song was written during the War of 1812 by Francis Scott Key, a slave owner.

09 November 2017
Chrome update kills unwanted ad redir… WIN A FREE iPad!!
With Chrome 64, in testing now and due to ship early next year, Chrome will block that kind of bait and switch, Google said. Chrome, the most-used browser according to analytics firms like StatCounter and NetMarketShare , exerts the most power.

09 November 2017
Amazon's in-home delivery service, 'Amazon Key,' now available in Indianapolis
Extended ($ 9.99 / month, $ 99 /year) offers access to the last 14 days of video recording of traffic for five cameras. Kits cover the range from $250-390, depending on which lock you select when you add the item to your cart.

09 November 2017
Kayak killer gets up to four years in prison for fiancé's death
The Poughkeepsie Journal reported that Angelika Graswald , 37, has been jailed since April 30, 2015, and will be given time served.

09 November 2017
Bharat Forge Q2 net up 60 pc at Rs 204 cr
The company has reported EPS of Rs.1.76 for the period ended September 30, 2017 as compared to Rs.0.99 for the period ended September 30, 2016.

08 November 2017
Pregnant Kate opens up about leaving Prince George at the school gates
After weeks of suffering from extreme morning sickness, it seems like the former Kate Middleton may finally be on the up and up. We are all working to give children the emotional strength they need to face their futures and thrive.

08 November 2017
Nantucket Police Are Investigating Kevin Spacey After New Sexual-Assault Accusation
Some had reached out to her after she sent a tweet October 13 saying: "The #weinsteinscandal has emboldened me- #truth time". Her son, now 19, fled when Spacey excused himself to use the bathroom and a woman urged the young man to run, Unruh said.

08 November 2017
Jennifer Aniston, Reese Witherspoon morning-TV drama heads to Apple
Witherspoon's salaries are expected to be over $1 million an episode, according to a person who was pursuing the show. Apple's other scripted series, Amazing Stories , is a revival of the Spielberg anthology show from the late 1980s.

08 November 2017
2018 iPad Coming With Face ID, No Home Button Or OLED Screen
Bloomberg said a different model will, meaning it might not carry the "iPad Pro" moniker. They asked not to be identified talking about private product development.

08 November 2017
Al Horford evaluated for concussion, won't play vs. Lakers
While Horford is hot from long range, the Celtics are hot in general, entering Wednesday on a nine-game winning streak. His timetable for a return is unclear, though, as the team plans to monitor him as he progresses through the protocol.



Recommended