Icahn’s biofuel boon prompts concern about conflict of interest
The US has its own potential ‘state capture’ scandal brewing, as the billionaire investor is advising Trump on energy policies that directly affect his pocket
Washington — Carl Icahn’s stake in a Texas refiner grew by as much as $126m on Tuesday after the billionaire investor and special adviser to President Donald Trump helped broker a proposal to alter US biofuels policy. Icahn Enterprises holds an 82% stake in refiner CVR Energy, which gained as much as 7.7% on news of a proposed deal to change the way the renewable-fuels program operates. "This is the purest definition of a conflict of interest that you can get," said Tyson Slocum, a director at Washington-based watchdog Public Citizen. "It is clear that Icahn has played a role in influencing aspects of administration policy that have a direct financial impact on Icahn’s business at CVR." A spokeswoman for Icahn, Susan Gordon, did not respond to telephone and email requests for comment. CVR Energy CEO Jack Lipinski declined to comment. While federal ethics rules prohibit government employees from profiting from their government service, those rules may not apply to Icahn, who is not p...
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