The Environmental Protection Agency (EPA) announced Friday the finalization of a rule that gives oil refiners more time to comply with biofuel blending requirements. While the agency is still working to propose biofuel blending requirements for 2020, 2021 and 2022, it plans on changing the way future deadlines are determined to simplify and clarify the process. Delaying the deadline for oil refiners to comply with blending requirements stems from the Renewable Fuel Standard (RFS) that requires refiners to blend billions of gallons of biofuels each year. Last year, several refiners slowed or stopped buying compliance credits, hedging their bets that EPA would loosen blending requirements, putting them at risk for hundreds of millions of dollars in liabilities.
The announcement comes after a long and arduous battle during the Trump administration to uphold the RFS after a record amount of waivers were given to oil refineries to avoid blending all together.
Read more on EPA’s rule here.
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