OPIS Biofuels Headlines
February 4, 2015
Sources: EPA May Re-Propose 2014 RFS Targets
EPA may re-propose its 2014 renewable fuel standard (RFS2) targets in the near future to take into account market changes since the agency first proposed the 2014 target in November 2013, multiple sources have confirmed to OPIS.
“The rumor we’re heard from a couple different sources is that EPA is going to re-propose the 2014 rule soon,” a source familiar with the issue explained to OPIS Wednesday.
In its proposal for the 2014 targets, EPA called for across-the-board cuts.
“The numbers will be higher than the range included in the [2014 RFS] proposal, but we don’t know how much higher or what they’ll look like,” the source continued. However, the numbers could be based on actual 2014 production, according to publicly available and tracked data from EPA and posted on its EMTS database.
There could also be a new comment period on the 2014 proposal, the source noted.
A second source familiar with the issue also heard the same rumor, but noted EPA may shorten the comment period on the re-proposed 2014 RFS targets from the standard 90 days to an expedited 30-day schedule.
A shortened comment timeframe would make sense if EPA wished to maintain its “spring” goal for taking action on the 2014, 2015 and 2016 RFS targets, the first source noted.
EPA has not provided any further guidance on when it will issue the 2014 rule, only noting that it plans to take action on the 2014, 2015 and 2016 RFS targets this spring.
When reached for comment Wednesday, an EPA spokesperson said the agency had nothing further to update to its RFS timeframe.
However, as Paul Argyropoulos, senior policy advisor for EPA's Office of Transportation and Air Quality, told OPIS last month after he spoke at the National Biodiesel Board’s annual conference, "everything is on the table" in terms of options, such as whether the agency plans to issue just a final 2014 RFS proposal by spring or whether the agency issues a multi-year proposal for 2015 and 2016 as well. "Even though the proposal was for 2014, we are past 2014. How do we manage that? Is the proposal close enough to finalize?" he told OPIS. "That's something that has to be evaluated. I'm not saying we would re-issue a proposal, but all of those things have to be considered," he said.
"But again, no decisions have been made on this," Argyropoulos added to OPIS last month.
--Rachel Gantz, email@example.com
Copyright, Oil Price Information Service