EPA's final rule for the expanded Renewable Fuels Standard has been submitted to the Office of Management and Budget for its review - the final step before the rule can take effect. The Renewable Fuels Association points out that EPA has yet to issue the 2010 renewable volume obligations which specify the percentage of an obligated party's transportation fuel that must be comprised of renewable fuels.
EPA has signaled that the 2010 RVOs will be specified in the final rule and that the obligations will be retroactive to January 1, 2010. However, to avoid disruptions in the ethanol blending market, RFA points out, obligated parties would benefit from knowing now what the RVOs will be for the coming year.
Renewable Fuels Association President Bob Dinneen says in order to provide clarity to the market, they are encouraging EPA to issue these percent volume requirements prior to January 1, 2010, so both gasoline refiners and ethanol producers can operate with certainty. According to EPA public statements RFS is likely to be approved in the mid-January timeframe. It takes an additional 60 days for the approved rule to take effect.
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