Report: EPA Likely To Lower Corn Ethanol Mandate For 2020 And 2021
According to Reuters, the U.S. EPA plans to publish its long awaited proposed Renewable Fuels Standard in a matter of days.
The EPA is expected to reduce blending mandates for 2020 to 17.1 billion gallons and 18.6 billion gallons for 2021.
The EPA delayed decisions on 2021 blending obligations by more than a year and recently missed the November 30th deadline to finalize 2022 blending mandates.
The EPA told at least two U.S. Democratic Senate offices to expect retroactively lower volumes for 2020 and 2021 and a restoration of volumes in 2022.
EMA has for many years called for lower annual corn ethanol blending volumes that would allow marketers to determine for themselves whether to sell E15 rather than be required to do so through a de facto mandate.
After the news on Thursday, RIN prices for renewable fuel (D6) credit fell more than 7 percent to $1.00 each from $1.08 each.