WASHINGTON — Today, the Environmental Protection Agency released its final Renewable Fuel Standard (RFS2) renewable volume obligations (RVOs) for 2017. The agency finalized a total renewable fuel volume of 19.28 billion gallons (BG), of which 4.28 BG is advanced biofuel and 311 million gallons is cellulosic biofuel. Thus, the implied RVO for conventional biofuels like corn ethanol will be 15BG—up from the 14.8 BG proposed in May.
RFA President and CEO Bob Dinneen released the following statement:
“We can all be thankful EPA has raised the conventional biofuel requirement to the 15 billion gallon level required by the statute. The move will send a positive signal to investors, rippling throughout our economy and environment. By signaling its commitment to a growing biofuels market, the agency will stimulate new interest in cellulosic ethanol and other advanced biofuels, drive investment in infrastructure to accommodate E15 and higher ethanol blends, and make a further dent in reducing greenhouse gas emissions.
“The final RVO rule helps put consumers in the driver’s seat when it comes to fuel choice at the pump and we thank EPA for listening to the public’s demand for lower cost, higher octane fuels, recognizing the rising demand for gasoline and abiding by the statute. We look forward to getting the RFS back on track, providing the consumer savings, carbon reductions and energy security benefits envisioned by Congress.”