The U.S. Environmental Protection Agency is expected to release a final rule on biofuel blending volume mandates for the years 2023-2025 by June 21, after seeking a one-week extension on a deadline for the rule, according to a court document on Tuesday.
The EPA was set to issue a final rule by Wednesday under a court-ordered deadline, but has agreed to an extension with industry trade group Growth Energy, according to the filing. Reuters reported the delay earlier on Tuesday, citing anonymous sources.
Market participants in the oil and biofuel industries have been awaiting a final rule. The RFS is an often contentious law that largely pits the two industries against each other, as ethanol producers and corn farmers like the mandates because they provide a market for their products, while the oil industry finds the requirements too pricey.
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