November 28, 2007

U.S. EPA announces 2008 renewable fuels standard

Washington, D.C. – The U.S. Environmental Protection Agency (EPA) is setting a new renewable fuels standard (RFS) of 4.66 per cent. The standard meets the 2005 Energy Policy Act’s mandate that at least 5.4 billion gallons of renewable fuels be blended into transportation gasoline in 2008.

Based on the standard, each party determines the minimum volume of renewable fuel that it must ensure is used in its motor vehicle fuel. The standard for 2007 was 4.02 per cent, equating to roughly 4.7 billion gallons. The overall volume target increases each year, reaching 7.5 billion gallons in 2012.

The Energy Policy Act requires the EPA to annually determine the standard by November 30 for the following year. The standard applies to refiners, importers and non-oxygenate blenders of gasoline.

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