Well, EPA has finally proposed the revised bioenergy production mandates under the Renewable Fuel Standard (RFS) retroactively for 2014, for this year, and for 2016. Not a big surprise that it was less than the original mandates, and I’d like to put this in perspective rather than say “biofuel targets have been SLASHED!!!”. The revised mandates continue to hover around 2-5% of the original mandates. For example, here is a quick comparison of the original cellulosic volumes, the revised volumes and the % differences.
cellulosic (million gallons) | % of original | ||
2010 | original | 100 | |
% of previous yr | – | ||
revised | 6.5 | 7% | |
2011 | original | 250 | |
% of previous yr | 250% | ||
revised | 6.6 | 3% | |
2012 | original | 500 | |
% of previous yr | 200% | ||
revised | 8.65 | 2% | |
2013 | original | 1,000 | |
% of previous yr | 200% | ||
revised | 14 | 1% | |
2014 | original | 1,750 | |
% of previous yr | 175% | ||
revised | 33 | 2% | |
2015 | original | 3,000 | |
% of previous yr | 171% | ||
revised | 106 | 4% | |
2016 | original | 4,250 | |
% of previous yr | 142% | ||
revised | 206 | 5% |
As we have discussed before, the original targets are completely unrealistic. The EPA is trying to strike a balance between driving a market for bioenergy, and avoiding lawsuits over phantom fuel, as well as trying to deal with the blend wall.
This rule will be open for public comment through July 27, 2015. I imagine there will be thousands of comments submitted, and we’ll see if the final rule changes significantly. Check the details here:
http://www.epa.gov/otaq/fuels/renewablefuels/regulations.htm