EPA Proposes Steep RFS Volume Cuts, But Plans To Deny Refiner Waivers

EPA is proposing significant reductions in biofuel blending volumes under the renewable fuel standard (RFS) for 2021 as compared to prior levels, along with a steep retroactive cut in 2020 levels, but is planning an increase in 2022 and also proposing to deny all petitions by small refiners to win economic hardship waivers from compliance. The widely expected decision, announced Dec. 7, attempts to balance the interests of biofuel producers and refiners, though neither side is especially happy with the...