EPA Gives Refiners More Time to Meet Renewable Mandate
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The federal government relented on quotas for renewable fuels as U.S. production of next-generation sources and demand for gasoline have lagged projections.
In issuing long-overdue final quotas, the Environmental Protection Agency today gave refiners an additional four months to reach the goal of using 16.55 billion gallons of renewable fuel for 2013. It also signaled it will cut the 18.15 billion gallon mandate for 2014, a looming requirement that had driven up the price of ethanol credits that refiners can buy to comply.