Exclusive: Inside Edge – Trump Advisor Icahn’s Big Bet Against Biofuels Credits
April 13, 2017
Billionaire investor Carl Icahn’s oil refining company, CVR Energy, made a massive bet in 2016 that prices for U.S. government biofuels credits would fall – just before Icahn started advising President Donald Trump on regulations driving that market.
The size and specifics of the gamble – involving $186 million worth of biofuels credits the company said it needed at the end of 2016 to satisfy regulatory requirements – have not been previously reported by the media.