IARN — The Biden administration’s Environmental Protection Agency will announce a rule this year detailing annual biofuel-blending mandates for three years instead of just one year.
Three sources told Reuters that the multi-year announcement will provide longer-term certainty to the refining and biofuel industries. Reuters says they’ve been battling over the Renewable Fuel Standard’s annual mandates since it first began. One source who requested anonymity says, “They’re trying to put together a proposal for 2023, 2024, and 2025, where once they have the proposals together, then they don’t have to go back in and don’t have to change or modify the volumes.” According to a legal document filed in July, the EPA has been ordered to propose a rulemaking for 2023 mandates by November 16. While Congress has set the mandates since the RFS began, the EPA will have the authority to set multi-year mandates and make other changes starting next year.
Story courtesy of the Iowa Agribusiness Radio Network.
