NEW DIRECTIONS FOR BIOFUELS

Biofuel industry at crossroads awaiting EPA ruling

James Osborne, January 20, 2015 (The Dallas Morning News)

“Seven years ago President George W. Bush signed a law mandating refineries blend fuels derived from corn, animal fat and plant waste into the nation’s fuel supply. But the industry it spawned says it’s on the verge of plant closures and layoffs if the federal government doesn’t clear up uncertainty about future fuel standards…The renewable fuel standard, which sets year by year mandates for ethanol, biodiesel and other biofuels, has come under debate in Washington over concern there is already too much ethanol within the nation’s gasoline supply…At the same time, U.S. oil production has increased 80 percent since 2010…[Ethanol is no longer needed to reduce] U.S. oil imports…That has left the biofuel industry in regulatory gridlock. The EPA has not updated the renewable fuel standard since November 2013. That year biodiesel production hit 1.8 billion gallons. But with no new standard, that number fell to 1.75 billion gallons in 2014…” click here for more

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