A top ethanol industry official charges the Biden EPA has failed to restore the integrity of the Renewable Fuel Standard with its final rule to further extend refiner volume compliance deadlines.
Renewable Fuels Association chief Geoff Cooper says EPA was headed in the right direction with its December renewable volume proposals. But then, last week, EPA told the world, refiners need not plan for date-certainty in meeting volume requirements.
“They’re talking about going back in time and extending 2019 and 2020, and then, worst of all, looking forward and saying, we’re just kind of, going to throw our hands up, and we will require refiners to show they complied with the RFS, sort of, whenever we feel like it. I just think, that does not help put the RFS back on track, and it doesn’t help restore the integrity and fidelity to the program, that we’re looking for.”
And that, Cooper says, EPA chief Michael Regan agreed to pursue. Now, Cooper concludes, uncertainty will breed mischief.
“You’ve got some refiners that haven’t even shown 2019 compliance, yet, and so, because of the way RIN credits are tradable, and because of the way they have two-year lifetimes, it just allows for those obligated parties, those refiners, to play games in the marketplace.”
Not good, Cooper concludes, for the integrity and stability of the RFS and home-grown biofuels in the marketplace.