BIO assesses impact of EPA delays on RFS investment
BIO examined the impact of EPA's recent inability in administering the federal Renewable Fuel Standard (RFS) on investment in advanced and cellulosic biofuels. It has found that EPA's delay in issuing the final 2013 and 2014 RFS rules, among other delays in RFS administration, is responsible for most of the '$13.7 billion shortfall in necessary investments for capacity to meet the RFS goals.' According to the white paper, the delays have 'undercut the industry's ability to create new employment opportunities by more than 80,000 direct jobs.'
This white paper is released as RFS stakeholders are eagerly awaiting EPA's expected release of the final 2014 RFS rule later this year. Biofuels stakeholders would like to see the Agency withdraw and re-issue EPA's proposed 2014 RFS rule with stronger volumetric requirements and a different methodology, while oil and gas industry stakeholders are pressing EPA to issue the final 2014 RFS in line with the volume requirements and methodology contained in the proposed rule.