GPRE - EPA to delay release of final U.S. biofuel blending quotas - Reuters

2023-06-13 11:55:56 ET

• The U.S. Environmental Protection Agency is seeking more time to finalize biofuel blending volume quotas for 2023-25, delaying an announcement of the targets until next week, Reuters reported Tuesday.
• The final rule is set to mark a new chapter of the Renewable Fuel Standard, with the EPA's authority for 2023 and beyond expanded to change the way the RFS is administered.
• The most recent iteration of the RFS has brought in additional stakeholders, after the EPA in December proposed to include a pathway for electric vehicle manufacturers to generate credits under the rule, but the EPA is expected to abandon that part of the proposal in the final rule, Reuters reported.
• Also under the December proposal, the EPA would require oil refiners to add 20.82B gallons of biofuels to their fuel in 2023, 21.87B gallons in 2024, and 22.68B gallons in 2025, including more than 15B gal/year of conventional biofuels such as corn-based ethanol.
• It is not known if those requirements will change in the final rule.
• Potentially relevant tickers include ( NASDAQ: GPRE ), ( NASDAQ: GEVO ), ( AMTX ), ( AMRS ), ( FF ), ( VLO ), ( PBF ), ( MPC ), ( PSX ), ( CVI ), ( NYSE: ADM )

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