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

loading...
loading...

Latest


09 November 2017
Donald Trump Impeachment Vote Will Happen Before Christmas, Texas Lawmaker Says
This time, Green said some time still must pass before a floor vote, "because there still is a need for the public to weigh in". My conscience dictates that I will vote to impeach. "Let others to what they may", he said. "History will judge us all".

09 November 2017
Tia Mowry-Hardrict Is Pregnant With Her Second Child
Now, the actress can't wait to welcome the fourth member of her family, as she captioned the post with four hearts for each family member.

09 November 2017
Square Inc Q3 2017 Earnings Results Sink Shares
Analysts on average had expected a profit of 5 cents per share on revenue of $245 million, according to Thomson Reuters I/B/E/S. Gross payment volume (GPV) continued to be a critical metric for the young mobile payments company.

09 November 2017
'Clean and sober' Gordon getting fresh start with Browns
Gordon revealed in an interview for GQ that he never played a game sober, and drank or used drugs before every start. Four years later, he's played in just five games while being suspended several times for substance abuse violations.

09 November 2017
Cornerstone OnDemand (NASDAQ:CSOD) Given Daily Coverage Optimism Rating of 0.18
Raymond James And Associate holds 0% or 23,173 shares. (NASDAQ:CSOD). 625 were accumulated by Comml Bank Of Montreal Can. The Firm develops, owns, operates, manages, franchises, licenses or provides services to a portfolio of properties.

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.

08 November 2017
Falling US Stockpiles Offset Rise in Crude Stocks
Crude oil stockpiles recovered last week as very large drops in product stockpiles were offset by a collapse in net imports. Meanwhile, imports declined by 194,000 b/d versus the prior week to an average of about 7.4m barrels per day.

08 November 2017
Bitcoin Price Reaches High of $7700 Following Segwit2x Cancellation
The group still gave a hint of meeting again in may 2018, with a hope to increase the block size after the more stakeholder agrees to it.

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.

08 November 2017
Texas: Uma das vítimas era avó da mulher do atirador
Ainda não foi divulgado boletim médico informando o real estado de saúde dos feridos que continuam internados nos hospitais. Entre os mortos está a filha de 14 anos do pastor Frank Pomeroy, disse a família a diversas emissoras de televisão.