EPA has proposed to significantly reduce the total renewable fuel volumes Congress set by statute from 18.15B gallons to 15.21B; reduce advanced biofuels from 3.75B to 2.2B; cellulosic ethanol at 17M & bio-based diesel at 1.28B. Reducing the volumes of 2014 Renewable Fuel Standard (RFS) will impact:
Ethanol production alone accounts for 400,000 American jobs, saves consumers money at the pump & increases energy independence from foreign oil.
Drastic cuts will prohibit development of next gen biofuels including cellulosic & advanced bio-based fuel & have a devastating impact on agriculture & rural economies.
The day EPA made this announcement, Big Oil reaped $23B in profit while every biofuel & corn stock dropped.
On behalf of Patriot Renewable Fuels