Sioux Falls, SD - The American Coalition for Ethanol (ACE) CEO Brian Jennings issued the following statement after the U.S. Environmental Protection Agency (EPA) released its finalized rule extending the 1-psi Reid Vapor Pressure (RVP) waiver to E15 during the summer months to allow its sale year-round and modifying Renewable Identification Number (RIN) credit trading:
“EPA’s rule means U.S. retailers finally have the opportunity to offer E15 to their customers year round as the peak summer driving season kicks off this weekend.
"We’re grateful EPA kept the President’s promise to get the rulemaking done on time and we will work to ensure retailers understand their hands are no longer tied by red tape preventing them from offering a lower priced, higher octane E15 fuel to their customers all year starting this summer.
"For the ethanol industry and farmers, this means greater market access — more ethanol demand over the long term as additional retailers begin offering E15.
“We’re also grateful EPA considered the comments ACE and many others made in opposition to sweeping and unnecessary reforms to the way RIN credits are handled under the Renewable Fuel Standard (RFS).
"Had EPA gone forward with the so-called RIN reforms, it would have dulled the upside benefit of E15 year-round.
“Finally, speaking of dulling the upside benefit of E15 year-round, as we have repeatedly cautioned, EPA’s ongoing mismanagement of the RFS through blanket small refinery exemptions (SREs) needs to stop.
"The net effect of E15 year-round with 2.61 billion gallons worth of SREs that aren’t reallocated means we’re still in the hole when it comes to ethanol demand through the RFS.
"EPA is currently sitting on nearly 40 requests for refinery waivers from the 2018 compliance year.
"We discourage EPA from erasing any benefit of today’s rule by granting more waivers at a time when rural America can least afford it.”
For more information, please contact Katie Fletcher at 605-306-6107.