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Valero Energy Corporation Message Board

  • bluecheese4u bluecheese4u Jul 31, 2013 2:50 PM Flag

    Biofuel industry weighs in on final House RFS white paper

    Biofuel industry weighs in on final House RFS white paper

    Erin Voegele | July 30, 2013

    Representatives of the biofuels industry have weighed in on the fifth, and final, white paper on the renewable fuels standard (RFS) published by the House Energy & Commerce Committee, titled “Implementation Issues.”

    Within the paper, the committee asked for stakeholder feedback on variety of issues, including whether the U.S. EPA’s annual process to set the volume requirements is effective, specifically in regard to cellulosic fuels. The committee also sought input on ways the renewable identification number (RIN) program could be improved and whether or not the RFS is incentivizing refiners to make less gasoline available to the U.S. market.

    In its response, the Biotechnology Industry Organization stressed the RFS has been successful in driving the commercialization of advanced biofuel technologies. “The RFS provides exactly the type of long-term regulatory stability needed to send a signal to investors to develop a biofuels industry that lessens our dependence on foreign fuels and creates jobs in America,” said Brent Erickson, executive vice president of BIO’s Industrial & Environmental Section.

    Within its comments, BIO said the cellulosic biofuel provisions of the RFS are working well, and several facilities are currently poised to begin production of next-generation fuels. The organization also pointed to the possibility that regulatory uncertainty is contributing to speculative RIN trading, driving up prices.

    Brian Jennings, executive vice president of the American Coalition for Ethanol, also submitted comments, stating that RIN prices have risen this year because oil companies don’t want to comply with the RFS. “RIN prices have increased in 2013 because certain obligated parties (i.e. oil companies) have chosen not to comply with the RFS by purchasing and blending additional ethanol (which costs approximately 70 cents per gallon less than gasoline on the wholesale ma

 
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