A Win for Biofuels

The Environmental Protection Agency has released its proposed renewable volume obligations, or RVOs, giving a boost to the biofuels market. The proposal calls for a significant increase in bio-based diesel volumes, with the 2026 target set at 5.61 billion gallons, well above industry expectations. The volume for conventional fuels, like ethanol, was put at 15 billion gallons.  A proposal to reduce the value of imported renewable feedstocks, like used cooking oil, could also impact the market. A public comment period is expected to run for 30 to 60 days before the final rule is issued by the November 30 deadline. Agriculture Secretary Brooke Rollins praised the EPA decision to set the highest-ever biofuel volume requirements under the RFS. Rollins said this action provides certainty for corn and soybean farmers and lowers prices at the pump for consumers.