Last week the ethanol industry cheered when the EPA proposed a rule that would allow 15% ethanol blends to be sold year-round. But by the end of the week they were complaining as the EPA granted more waivers to refiners seeking exemption from ethanol-blending requirements.
Steam billows from a smokestack at the Poet Biorefining facility in Jewell, Iowa, U.S., on Wednesday, Feb. 21, 2018. Last week the ethanol industry celebrated a decision by the EPA to allow year-round blending of 15% ethanol blends. Photographer: Sergio Flores/BloombergEnvironmental Protection Agency Administrator Scott Pruitt resigned. the Renewable Fuel Standard . As EPA Administrator, Pruitt seemed determined to weaken the RFS.
efiners save money with these waivers, but they also lower the value of the credits refiners must pay to comply with the mandate. That means the waivers weaken the RFS, so they Following Pruitt's departure, Andrew Wheeler, who was Pruitt's second-in-command, took over as EPA Administrator. The ethanol industry had long sought to sell E15 year-round and cheered the news. The new rule would also establish trading restrictions to curb speculation in renewable identification numbers . Speculation in RINs -- which are used to enforce the ethanol mandate -- has been blamed for driving ethanol prices higher at times.
It seems to me that the RFS quotas are at least as arbitrary as the 10% barrier was, so what the ethanol industry really seeks is that refiners are forced to blend at least 10% but allowed to blend more. Refiners, on the other hand, would like to be able to blend any amount they choose based on what economics dictate, even if that means zero ethanol blended.that these five"ridiculous RFS waivers" would translate into"nearly a billion bushels of corn demand lost.
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