The U.S. Environmental Protection Agency is expected to propose by the end of this week the amount of renewable fuels that oil refiners must blend into their fuel mix for 2023 and beyond, two sources familiar with the matter said.
The EPA is expected to announce multiple years of renewable fuel obligations, Reuters has previously reported. The agency is also expected to include in the announcement a request for comment for provisions regarding electricity use under the law, the U.S. Renewable Fuel Standard , the sources said.Biofuel and oil industry stakeholders have been eagerly awaiting the proposal, which is delayed.
Under the RFS, oil refiners are required to blend billions of gallons of biofuels into the nation's fuel mix, or buy tradeable credits from those that do. While Congress set out specific goals through 2022, the law expands the EPA's authority for 2023 and beyond to change the way the RFS is administered. Starting next year, the agency has leeway to set multi-year mandates and make other changes.that the EPA is expected to propose that electric vehicles be eligible for renewable fuel credits, according to sources.
Reporting by Stephanie Kelly in New York and Jarrett Renshaw in Philadelphia Editing by Matthew LewisA New-York-based correspondent covering the U.S. crude market and member of the energy team since 2018 covering the oil and fuel markets as well as federal policy around renewable fuels.
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