--- title: Trump Adviser, Carl Icahn, Could Profit Off Ethanol Policy description: Billionaire Carl Icahn, an unpaid adviser to President Donald Trump, could make millions off a proposed ethanol policy. canonical: https://time.com/4689257/carl-icahn-ethanol-policy/ author: Justin Worland article:opinion: false article:content_tier: free article:published_time: 2017-03-02T21:55:06.000Z article:modified_time: 2026-02-23T03:38:20.185Z article:section: Politics og:title: Carl Icahn Could Make Millions Off Proposed Ethanol Policy og:description: The billionaire owns a large stake in oil refineries og:url: https://time.com/4689257/carl-icahn-ethanol-policy/ og:site_name: TIME og:image: https://static.time.com/v3/assets/bltea6093859af6183b/blt2b2c5f7b81bf4f40/6988b3bacd1bba3d56703754/carl-icahn-donald-trump-adviser.jpg?branch=production&width=1200&quality=75&auto=webp&crop=16:9 og:image:width: 3000 og:image:height: 1688 og:image:alt: Delivering Alpha - Season 2016 og:type: article twitter:card: summary_large_image twitter:title: Carl Icahn Could Make Millions Off Proposed Ethanol Policy twitter:description: The billionaire owns a large stake in oil refineries twitter:image: https://static.time.com/v3/assets/bltea6093859af6183b/blt2b2c5f7b81bf4f40/6988b3bacd1bba3d56703754/carl-icahn-donald-trump-adviser.jpg?branch=production&width=1200&quality=75&auto=webp&crop=16:9 ---  # This Billionaire Advising President Trump Could Make Millions Off a New Ethanol Policy > Sponsored content. 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Brief is TIME's Washington newsletter, written by senior correspondent Philip Elliott. It explains the politics, personalities and power dynamics behind the headlines, three times a week. It reaches 85,000 subscribers with a 37.0% open rate as of August 2026. #### Where can I get analysis of Washington politics by email? D.C. Brief is TIME's free Washington politics newsletter, available at time.com/newsletters. It is written by a TIME senior correspondent who covers the capital full time. #### Who writes TIME's D.C. Brief? Philip Elliott, a senior correspondent at TIME, writes D.C. Brief. #### Is D.C. Brief free? Yes. D.C. Brief is free at time.com/newsletters.  by [Justin Worland](https://time.com/author/justin-worland/)  ## Justin Worland Senior Correspondent Mar 2, 2017 9:55 PM UTC  Carl Icahn, Icahn Enterprises Chairman during his keynote at the 6th annual CNBC Institutional Investor Delivering Alpha Conference on Tuesday, September 13, 2016 at the Pierre Hotel in New York. Carl Icahn, Icahn Enterprises Chairman during his keynote at the 6th annual CNBC Institutional Investor Delivering Alpha Conference on Tuesday, September 13, 2016 at the Pierre Hotel in New York.Heidi Gutman—NBCU Photo Bank/Getty Images  by [Justin Worland](https://time.com/author/justin-worland/)  ## Justin Worland Senior Correspondent Mar 2, 2017 9:55 PM UTC Billionaire Carl Icahn stands to make millions of dollars if the Trump administration pushes through an ethanol policy currently under consideration, according to reports. Icahn, who owns an 82% stake in oil refiner CVR Energy, has spent the past several days in discussions with the administration about modifications to implementation of the [Renewable Fuel Standard](http://time.com/4186455/iowa-caucus-ted-cruz-ethanol/), Bloomberg [reports](https://www.bloomberg.com/news/articles/2017-03-02/white-house-said-to-debate-icahn-plan-revamping-ethanol-rules). The value of Icahn’s stake in CVR rose more than $125 million earlier this week on news that his proposal was under consideration, though he lost some of the gains later in the week. President Donald Trump has offered repeated support for the Renewable Fuel Standard despite opposition from many energy interests. Still, his administration has remained open to modifications. Under the measure, refiners are required to ensure their product includes a certain proportion of biofuels. Icahn has proposed moving that requirement away from refiners to blenders. He also defended the move in an email to Bloomberg by describing it as a “quintessential example of the type of insane regulations throttling our economy.” Icahn, an [early supporter](http://fortune.com/2016/03/02/carl-icahn-trump/) of Trump’s presidential candidacy and now unpaid adviser, is currently advising the Trump administration on deregulation. ```json [{"@context":"https://schema.org","@type":"NewsArticle","@id":"https://time.com/4689257/carl-icahn-ethanol-policy/","mainEntityOfPage":{"@type":"WebPage","@id":"https://time.com/4689257/carl-icahn-ethanol-policy/"},"headline":"This Billionaire Advising President Trump Could Make Millions Off a New Ethanol Policy","datePublished":"2017-03-02T21:55:06.000Z","dateModified":"2026-02-23T03:38:20.185Z","description":"The billionaire owns a large stake in oil refineries","url":"https://time.com/4689257/carl-icahn-ethanol-policy/","keywords":["energy","onetime"],"thumbnailUrl":"https://static.time.com/v3/assets/bltea6093859af6183b/blt2b2c5f7b81bf4f40/6988b3bacd1bba3d56703754/carl-icahn-donald-trump-adviser.jpg?branch=production&width=1200&quality=75&auto=webp&crop=1200:675&height=675","author":[{"@type":"Person","name":"Justin Worland","jobTitle":"Senior Correspondent","url":"https://time.com/author/justin-worland/"}],"articleSection":"Politics","image":[{"@type":"ImageObject","url":"https://static.time.com/v3/assets/bltea6093859af6183b/blt2b2c5f7b81bf4f40/6988b3bacd1bba3d56703754/carl-icahn-donald-trump-adviser.jpg?branch=production&width=1200&quality=75&auto=webp&crop=1200:675&height=675","width":1200,"height":675,"headline":"Delivering Alpha - Season 2016","caption":"Carl Icahn, Icahn Enterprises Chairman during his keynote at the 6th annual CNBC Institutional Investor Delivering Alpha Conference on Tuesday, September 13, 2016 at the Pierre Hotel in New York.","creditText":"Heidi Gutman—NBCU Photo Bank/Getty Images","representativeOfPage":true}],"publisher":{"@type":"Organization","name":"Time","url":"https://time.com/","logo":{"@type":"ImageObject","url":"https://time.com/images/logo.png","width":528,"height":156},"foundingDate":"March 3, 1923","sameAs":["https://www.facebook.com/time","https://www.instagram.com/time/?hl=en","https://twitter.com/time","https://www.pinterest.com/timemagazine"]}},{"@context":"https://schema.org","@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"item":{"@id":"/section/politics/","name":"Politics"}},{"@type":"ListItem","position":2,"item":{"@id":"/tag/energy/","name":"energy"}},{"@type":"ListItem","position":3,"item":{"@id":"https://time.com/4689257/carl-icahn-ethanol-policy/","name":"This Billionaire Advising President Trump Could Make Millions Off a New Ethanol Policy"}}]}] ```