The Environmental Protection Agency released its draft “set” rule, which sets the annual biofuel blending targets for 2023-2025 under the Renewable Fuel Standard. Soy farmers were initially pleased with EPA’s 2022 volume target, which included the highest-ever number for total renewable fuels and specifically biomass-based diesel since the RFS was created.
The new proposal goes in the other direction. “This rule slams the breaks on progress being made in biofuel investments and growth,” says American Soybean Association president Brad Doyle. “Instead of continuing to support available low-emission, plant-based fuel sources, EPA has changed course and seems to ignore major investments in and consumer demand for biomass-based diesel and other biofuels that exist right now.”
The multi-year set rule is supposed to provide consistency and encourage investment in the biofuels industry. ASA says these insignificant volume increases for 2023-2025 could not only stifle growth but also jeopardize the existing biofuels industry.