POET'S POLICY VOICE
POET's involvement in federal and state policy issues.
Ending Big Oil Bailouts
The EPA continues to bail out some of the nation’s largest and most profitable oil refiners with small refinery exemptions (SREs), undermining President Trump’s promise to grow biofuel volumes and protect rural jobs.
During the first three years of the Trump Administration, the number of SREs has skyrocketed 485 percent. The EPA’s unprecedented abuse of the waiver program has cut biofuel demand by 4 billion gallons and slashed corn demand by 1.4 billion bushels. This senseless demand destruction is closing biorefineries, killing jobs and inflicting severe damage on the rural economy.
POET has appealed to the White House and the EPA to end SRE abuse and to uphold the intent of the Renewable Fuel Standard by reallocating lost biofuel gallons to other obligated refiners – before more rural jobs and farms are needlessly lost.
The U.S. Environmental Protection Agency (EPA) on Friday, May 31, issued a final rule to allow consumers uninterrupted access to E15, a fuel blend with 15 percent ethanol. The announcement comes following a public comment period on a proposed rule and in time for this summer’s driving season.
The EPA’s rule changes the nearly decade-old limitations on year-round E15, allowing consumers to have year-round access to the clean, lower-cost option at the pump. Previously, E15 sales were restricted in most markets from June 1 to Sept 15.
Resetting Renewable Fuel Standard Targets
The Clean Air Act grants the U.S. Environmental Protection Agency (EPA) authority to adjust volumetric targets for renewable fuels established by Congress under certain circumstances. The EPA is expected to use this authority to reset annual volumetric targets for 2020-2022.
As the recognized global leader in both starch-based and cellulosic biofuel production, POET remains committed to ensuring that any new volumetric targets proposed by the EPA serve to strengthen the Renewable Fuel Standard and continue to encourage future growth and investment in homegrown biofuels.
Expanding State Low Carbon Fuel Standards
In an effort to reduce lifecycle greenhouse gas emissions and improve air quality, a number of policymakers are working at the state level to enact or strengthen Low Carbon Fuel Standard (LCFS) programs. These programs are designed to encourage the use of cleaner fuels with lower carbon intensity.
At POET, our environmental mission is central to who we are and what we do. Cleaner-burning renewable biofuels, including mid-level blends like E15 and E30, are the best way for states to achieve their carbon reduction goals. POET continues to partner with policymakers across the U.S. to ensure that the many environmental benefits of biofuels are appropriately recognized and accurately measured in each state’s LCFS program.
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