Title : Making America Great Again -- 25 Small Refiners Given New Lease On Life -- April 4, 2018
link : Making America Great Again -- 25 Small Refiners Given New Lease On Life -- April 4, 2018
Making America Great Again -- 25 Small Refiners Given New Lease On Life -- April 4, 2018
Link here at ArgusMedia:The Environmental Protection Agency (EPA) has so far granted 25 small US refiners exemptions from federal fuel blending mandates for 2017, dragging down the market for compliance credits and infuriating biofuels groups.
EPA did not comment on the associated number of renewable identification numbers (RINs) associated with small refinery exemptions to the Renewable Fuel Standard (RFS). The number of approved waivers — more than double the previous year and all but four of the applications received for 2017 — surged after Congress and federal courts told the agency last year it had overstepped its authority by limiting the number of waivers.
"It appears the agency has initiated a fire sale on RFS demand," Renewable Fuels Association chief executive Bob Dinneen said. [Yup, that is how it appears. LOL.]
RFS requires refiners, importers and other companies to each year ensure minimum volumes of renewables blend into the fuel they add to the US transportation supply.
Companies acquire RINs needed to prove compliance by blending approved renewable and conventional fuels. Obligated parties that lack infrastructure for that activity purchase RINs from blenders.
Congress created a hardship waiver for refineries with less than 75,000 b/d of capacity. Facilities must convince the Department of Energy and EPA that compliance creates an economic hardship. The waivers apply to individual facilities, rather than an overall company.
EPA does not adjust a year's minimum volume after waiving a small facility's obligation. Such waivers instead effectively reduce obligations for all obligated parties and increase the supply of available RINs, cutting costs.Much more at the link.
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