WASHINGTON, D.C. — American Fuel & Petrochemical Manufacturers (AFPM) General Counsel Rich Moskowitz issued the following statement on the news that the U.S. Environmental Protection Agency (EPA) has issued a proposal to exercise partial waiver authority for the 2024 cellulosic Renewable Fuel Standard (RFS) obligations:
“AFPM welcomes the news that EPA intends to exercise its waiver authority to address a known shortfall of cellulosic ethanol. The cellulosic RVO for 2024 greatly exceeded cellulosic biofuel production and was impossible to meet. Refiners should not be held liable to purchase fuels or RINs that do not exist.”
Relevant information:
- On November 1, AFPM petitioned the U.S. EPA to waive a portion of the 2024 cellulosic RVO, recognizing the shortfall in RINs and cellulosic biofuel production.
- Turner Mason & Company in October published an analysis of D3 and D7 RIN bank solvency for 2023-2024 and concluded that there is likely to be a shortfall of 115 million RINs for the 2024 compliance year, accounting to insufficient cellulosic biofuel production and a dearth of carryover RINs.
The American Fuel & Petrochemical Manufacturers (AFPM) is the leading trade association representing the makers of the fuels that keep us moving, the petrochemicals that are the essential building blocks for modern life, and the midstream companies that get our feedstocks and products where they need to go. We make the products that make life better, safer and more sustainable — we make progress.
