Biofuels

The Renewable Fuel Standard (RFS) is a regulatory program implemented by Congress and administered by the EPA that requires transportation fuel sold in the United States to contain a minimum volume of biofuels. The RFS program requires renewable fuel to be blended into transportation fuel in increasing amounts each year, capping out at 36 billion gallons by 2022. Subject to certain waiver provisions, the RFS requires specific blending requirements for fossil fuel refineries/importers, referred to as “Renewable Volume Obligations” (RVOs). Refineries/importers can comply with these blending standards by either blending to the required volume or purchasing credits, referred to as “Renewable Identification Numbers” (RINs).

When the RFS was initially implemented, the EPA developed exemptions for small refineries (daily production less than 75,000 barrels) if complying with the new standards would cause “disproportionate economic hardship.” Until recently, few refineries received such exemptions; however, in recent months, the EPA has granted dozens of exemptions, translating to tens of millions of dollars’ worth of biofuel blending credits.

Since the inception of the RFS over a decade ago, we have represented our clients within the biofuels industry. We also specialize in the RINs credit system and can provide relevant regulatory and legal counsel to meet address clients’ needs.