U.S. EPA Proposes Rule for Renewable Fuels Standard Program

The U.S. Environmental Protection Agency (EPA) recently released its proposed rule draft for the Renewable Fuels Standard (RFS) authorized in the Energy Policy Act of 2005.

The proposed rule covers how obligated parties may comply with the RFS through the purchase of credits if they do not wish to blend renewable fuels into their gasoline; who can generate credits and how obligated parties may transfer credits to one another; compliance and enforcement provisions and various fuel tracking mechanisms, plus additional information regarding the economic and air quality impacts. While current rules for 2006 still apply; the new rule will take effect at the start of 2007. The deadline to submit comments on the proposed rule is November 11, 2006. Please see the full notice in the Federal Register to submit comments.

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