Merchant refiners want White House to cut 2020 RVO by 800 million gal

Source: By OPIS • Posted: Sunday, October 10, 2021

Merchant refiners want the Biden administration to reduce the 2020 renewable fuel blending targets by at least 800 million gal and set the 2021 and 2022 Renewable Volume Obligations (RVO) to reflect the U.S. Energy Information Administration’s (EIA) forecasts for ethanol consumption, according to documents posted on the Office of Management and Budget’s (OMB) website. In a Sept. 14 meeting with OMB and EPA officials, representatives of refiners Monroe Energy and PBF Energy argued in a three-page presentation that high Renewable Identification Number (RIN) credit prices are threatening the viability of independent refiners. … Representatives of the Renewable Fuels Association (RFA), which met with OMB and EPA officials on Sept. 10, said in a document that “retrospective reductions” to the 2020 RVO “would further destabilize the renewable fuels industry and farm sector” and would “mark an unprecedented and inexplicable departure from EPA’s statutory authorities and established practices.”