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US EPA sends final 2020 biofuel volumes to White House for review

Highlights

Ethanol RINs assessed at 12.75 cents Friday

EPA aims to issue final 2020 volumes 'this winter'

Washington — The US Environmental Protection Agency on Friday sent its delayed 2020 biofuel blending mandate to the White House for review, but continues to allow for the possibility that it might not finalize the volumes by the end of the year.

"EPA has reviewed all comments received during the comment period from the public and we plan to finalize the rule this winter," spokesman Michael Abboud said Friday.

Oil refiners and biofuel makers depend on the final numbers to know how much renewable fuel must be blended into the nation's gasoline and diesel supply.

EPA was on track to release the final Renewable Fuel Standard volumes by Congress' November 30 deadline, until it proposed changes at the 11th hour as part of the Trump administration's attempt to quell farm-state anger about granting small refineries widespread waivers to the biofuel mandate.

Ethanol RINs have hovered around 12-13 cents/RIN for nearly four weeks, with trading activity slow as the market awaits EPA's next move.

S&P Global Platts assessed D6 ethanol RINs for 2019 compliance at 12.75 cents/RIN Friday, down 0.25 cent day on day.

RINs are tradable credits EPA issues to track production and use of alternative transportation fuels. For corn-based ethanol, one gallon of ethanol yields one RIN.

-- Meghan Gordon, meghan.gordon@spglobal.com

-- Edited by Keiron Greenhalgh, newsdesk@spglobal.com