Date: Aug 12, 2014
Over the past few weeks the U.S. Environmental Protection Agency (“EPA”) finalized several rules affecting its Renewable Fuel Standard (“RFS”) Program. On July 18, 2014, EPA finalized its rules concerning the Renewable Identification Number (“RIN”) Quality Assurance Program, which is intended to provide RIN purchasers an affirmative defense to civil liability should EPA determine that such RINs were invalidly generated. On the same day, EPA also approved additional feedstocks that will expand opportunities to produce cellulosic biofuel, but imposed more stringent eligibility criteria for certain existing feedstock categories. Lastly, on August 8, 2014, EPA issued an extension to the 2013 compliance reporting deadline, which will allow obligated parties time to consider 2014 needs before deciding how to allocate RINs to the 2013 compliance year.
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