In Washington, D.C., Bloomberg reports that White House administration officials are working on a plan to give a 5% increase to biofuel blending quotas in 2020 as President Trump looks to gain favor with the agriculture sector after losing it recently due to the small refinery waivers.
While Trump hasn’t approved the plan yet, and hinted at a “giant package” via Twitter back on August 29th, some in the biofuels industry told Bloomberg that the tentative plan still falls short. For example, Renewable Fuels Association President Geoff Cooper told Bloomberg, “We’re not asking for the moon and stars. We just want EPA to enforce the standards that Congress gave them, which means redistributing projected exemptions in the 2020 rule to ensure the statutory volumes for conventional renewable fuels remain whole. That’s hardly a big gift to ethanol and corn; it’s just following the law.”
According to Bloomberg, “under the latest drafted plan, a 2020 quota for advanced biofuel would see a 500 million gallon boost, above the 5.04 billion gallons proposed earlier this year. A de-facto quota for conventional renewable fuel, such as corn-based ethanol, would also get a 500 million gallon boost, to 15.5 billion gallons. And the U.S. Department of Agriculture has asked EPA to increase the proposed 2021 biomass-based diesel requirement by 250 million gallons, to 2.68 billion gallons.”