By Ellen Cools
Nov. 20, 2018 – According to Reuters, The U.S. Environmental Protection Agency (EPA) is planning to reset the U.S. Renewable Fuel Standard, which is set to expire in 2022.
The standard requires refiners to blend more biofuels into U.S. gasoline and diesel each year or purchase blending credits from companies that do. However, since its establishment in 2007, the standard has not met the EPA’s original targets, as production has been more costly and inefficient than expected.
Reuters reports that the EPA is planning to cut the 2022 target, although an exact number has not been decided on. The original target was 36 billion gallons of biofuel by 2022, but in 2018, the industry has only produced around 20 billion, with advanced biofuels (e.g. biofuel made from corn fibre and algae) the furthest from its original target.
Biofuel supporters argue the program should keep higher targets to encourage investments.
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