Reuters reports that yesterday the U.S. Environmental Protection Agency proposed a "renewable fuels standard" in order to comply with a 2005 law mandating refiners and marketers to raise biofuel production to 7.5 billion gallons in 2012. As reference, production for 2006 is projected at 4 billion gallons. Renewable fuels currently make up 2.78 percent of the nation's gas sales. The EPA's proposed standard would raise that to 3.71 percent next year.
The plan does, however, outline a market-style credit system which would allow a more flexible way for fuel suppliers to comply with the rules by selling biofuels mainly where it's most economical to do so.

The EPA projects that the renewable fuels standard would reduce U.S. petroleum consumption by 3.9 billion gallons per year equating to about 14 million tons in greenhouse gas emissions saved.

As an opponent of the pending rules, Bob Slaughter, president of the National Petrochemical and Refiners Association, said, "Consumers will be better served if the market, rather than politics, determines future use of fuel-blending components, including renewables."

Related:
[Source: Reuters]


I'm reporting this comment as:

Reported comments and users are reviewed by Autoblog staff 24 hours a day, seven days a week to determine whether they violate Community Guideline. Accounts are penalized for Community Guidelines violations and serious or repeated violations can lead to account termination.


    • 1 Second Ago
  • From Our Partners

    You May Like
    Links by Zergnet
    Share This Photo X