Exclusive: EPA will not reallocate waived biofuel volumes to 2019 – official

By Humeyra Pamuk

WASHINGTON (Reuters) – The U.S. Environmental Protection Agency (EPA) has rejected requests from the corn lobby to reallocate biofuel volumes waived under its small refinery exemption program into its 2019 mandate, an agency official told Reuters on Tuesday.

The move is likely to infuriate the powerful corn lobby and top officials in the U.S. Department of Agriculture, who have complained for months that an expansion of the EPA’s refinery waiver program under the Trump administration threatens demand for crucial farm products like corn-based ethanol.

Under the U.S. Renewable Fuel Standard, oil refiners must blend increasing amounts of biofuels into their fuel each year or purchase blending credits from those that do. But small refineries can be exempted from the RFS if they prove that complying would cause them financial strain.

The official also said the 2019 annual biofuel mandate figures were set to be largely in line with the agency’s June proposal of 19.88 billion gallons.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.