Market News & Headlines >> EPA Unveils 2017 RFS Proposal
The U.S. Environmental Protection Agency on Wednesday revealed it has proposed setting the 2017 federal renewable fuels standard (RFS) at 18.8 billion gallons, up a modest 4% from this year’s 18.11 billion gallons.
The EPA reportedly delivered its proposed rule to amend the RFS to the White House Office of Management and Budget (OMB) on May 10 and it is currently under OMB review.
The EPA’s proposed RFS is well below the statutory requirement of 24.0 billion gallons set by the Energy Independence and Security Act of 2007. The 2017 RFS includes a mandate for 14.8 billion gallons of conventional biofuels – mostly ethanol – to be blended with U.S. transportation fuels, up from 14.5 billion this year. That mandate is slightly below the statutory mandate, which was 15.0 billion gallons.
EPA has proposed raising the blending mandate for advanced biofuels to 4.0 billion gallons next year from 3.61 billion this year. The blending requirement for cellulosic biofuels would rise to 313 million gallons from 230 million this year.