Scott Irwin, University of Illinois Ag Economist specializing in the Renewable Fuels Standard, discusses the U.S. EPA announcement to delay an RFS decision until 2015.
U.S. EPA’s Janet McCabe - she’s an Acting Assistant Administrator - today signed a document and submitted it for publication in the Federal Register… that’s the document of record in Washington, D.C. The document says U.S. EPA will not finalize rule making for the 2014 RFS before the end of the calendar year. The agency was supposed to wrap that up at the beginning of the calendar year, but became mired in policy and technical issues related to changes proposed about a year ago.
It now says the 2014 rules will be made before or in conjunction with the 2015 announcement.
Logistically there are some log jams that will need to be dealt with related to RINs certificates from 2012. Those expire after two years. EPA says it will extend the expiration, but that the certificates will be in limbo until a new way to move them can be developed.
So, again the big news in at the ag world today is related to ethanol. U.S. EPA has decided it will not make an RFS announcement for compliance and usage numbers until sometime in 2015.