EPA Sees ‘Win-Win’ But E15 Waiver Appears To Be Loss For Refiners

EPA’s just-issued waiver allowing year-round sales of 15-percent ethanol (E15) drops earlier plans for a major overhaul of the renewable fuel standard (RFS) credit market, a significant loss for refiners that could undermine the Trump administration’s claim of a “win-win” policy for both biofuels producers and merchant refiners. The final rule announced May 31 authorizes E15 sales from June 1 to September 15, when they would otherwise be barred under federal restrictions on fuel volatility aimed at protecting air quality...