ETHANOL

[OldPro]

hopefully it was a courtesy...

meeting to explain to the TX Gov why they can't grant the waiver - of course this was explained only after Johnson listened to TX reasons for wanting it and they discussed other ways for EPA to help TX. who knows.

My theory is that President can't take chance that gas prices spike on news of granting the waiver - not in an environment when supposed to be doing all to lower gas prices. Anyway, Pres trying to help TX by giving more drilling rights/options - can't give them everything. Have seen a few estimates that ethanol currently lowers gas prices $0.29 - $0.40 per gallon.

Over-simplifying somewhat - but things are using simpler than they appear. We'll know later this week.