In 2005 Congress passed the Energy Policy Act (EPA) which created the Renewable Fuel Standard (RFS) statutory schedule. The 2005 EPA was amended it in 2007 with the Energy Independence and Security Act (EISA) which expanded those categories. The bottom line is that renewable fuels were scheduled to increase from 4 billion gallons in 2006 to 36 billion gallons this year. While conventional ethanol and biomass based diesel have fulfilled those volumes, the category of advanced biofuels has not, resulting in the statutory volumes being missed since 2014.
Under the statute, EPA had the authority to “reset” the RFS. That authority allows the EPA Administrator to adjust the applicable volumes of the RFS for future years start...
Key Market Insights The broad market is locked in on this week’s Trump-Xi meeting in Beijing, but this is no longer just a trade summit. Increasingly, the meeting is becoming tied directly to Iran, energy security, and the growing global economic fallout from disruptions through the Strai...
