Renewable Fuel Standard (RFS)

A new campaign from the American Fuel & Petrochemical Manufacturers (AFPM) spotlights the surging costs and unprecedented impact of biofuel mandates on U.S. refineries and the need for immediate action to get RFS costs under control.

AFPM is very pleased with this ruling and hopes that EPA now moves expeditiously to provide critical relief to those small refineries that have demonstrated disproportionate economic harm.

The Renewable Fuel Standard is more expensive in 2021 than at any other point in the program’s 15-year history. Soaring RFS prices signal that the RIN bank could run dry.

The U.S. is home to the most efficient and sustainable refining sector in the world, bolstering American energy security, supporting millions of well-paying jobs, and reliably providing the fuels the world needs to run. U.S. refiners have made major investments to continuously reduce the emissions of products and operations.

The cost of Renewable Fuel Standard (RFS) compliance credits, specifically D6 renewable identification numbers (RINs), is out of control. Sales of D6 RINs for conventional ethanol recently registered above $1.90 (the highest trades in history).

The Renewable Fuel Standard (RFS) today adds an extra 22-cents to the cost of manufacturing a gallon of gasoline and an additional burden to consumers at the pump due to high ethanol costs.

Statement from Chet Thompson: A plain reading of the RFS makes clear that Congress intended for the small refinery hardship program to be a lasting safety net. There is no “use it or lose it” provision.

The Supreme Court is set to review RFS small refinery relief—what’s required to qualify and whether any small refinery can be forever disqualified.

WASHINGTON, D.C. – AFPM appreciates the quick action taken by Administrator Regan and EPA staff to formally extend Renewable Fuel Standard compliance deadlines. In this moment, with surging RIN prices and slowly recovering fuel demand, refineries welcome this extra time and the flexibility it affords them to figure out how they will fulfill their individual RIN obligations.