Will the Trump Administration make changes to the Renewable Fuel Standards (RFS)? If so, will they benefit rural America? A biofuels executive fills us in on biofuels conversations taking place in Washington, D.C.
Jeff Broin, chairman and CEO of POET, outlines recent discussions over the Renewable Fuel Standard (RFS). Broin represented the biofuels industry in Washington, D.C. a couple weeks ago. He says President Trump seemed interested in finding a solution which benefits both parties: bioprocessors and refiners.
?To date, the President has been very supportive of E15 nationwide, but he?s also looking for a short-term solution to give some relief to merchant refiners. It should be short-term, maybe two to three years, Broin said. ?We?ve been working with all of these different groups, government and non-government, to try and come up with a solution.?
The biofuels industry is asking for E15 sales year round. Senator Ted Cruz (R-TX), in support of oil refiners, proposes a 10-cent cap on Renewable Identification Numbers (RINs). Broin believes blending more E15 would help Midwestern agriculture, as well as benefit struggling oil refineries.
?The main ?gist? of this is that Reid Vapor Pressure, or RVP relief would create a larger market, create more RINs and solve the issues refiners are facing today, all while driving demand for agricultural products,? Broin said. ?Reid Vapor Pressure relief for E15 is extremely important, and we feel solves the entire problem.?
Broin adds: ?A 10-cent RIN could be devastating for rural America and biofuels producers. It would cause more damage to the Ag sector.? He encourages citizens to reach out to elected official and share with them the importance of the Renewable Fuel Standard.
