The Environmental Protection Agency (EPA) today released its proposed rule ending the summertime ban on higher-ethanol blends of gasoline (E15). It also released its proposed reforms to the biofuel credit market, including:
- Preventing certain parties from being able to purchase Renewable Identification Numbers (RINs);
- Requiring public disclosure of RIN holdings above specific thresholds;
- Limiting how long a non-obligated party can hold RINs;
- Increasing disclosure requirements from annual to quarterly reporting.
EPA plans to hold a public hearing on the proposals on March 29. A location for that hearing has not yet been announced.
Wheeler said EPA is working to be “consistent with President Trump’s direction” and have the rules finalized “by the summer driving season.” Meanwhile, the oil industry has pledged to challenge the higher ethanol blends in court.