Several US refiners oppose biofuel blending rules

news item image
US refiners intend to challenge the Biden administration's rejection of waivers to exempt oil refiners from biofuel blending mandates.
This has left several on the hook for hundreds of millions of dollars, Par Pacific told Reuters.
The Environmental Protection Agency (EPA), which has the authority to issue the waivers, denied exemption requests from 15 small refineries in a move that corn farmers and ethanol producers welcomed.
Refiners including Par Pacific Holdings plan to join together in a legal challenge against the decision.
"We believe EPA's decision is arbitrary, capricious, and contrary to law," said Ashimi Patel with Par Pacific.
Par Pacific and CVR Energy have some of the largest outstanding obligations.
Under the Renewable Fuel Standard (RFS), oil refiners must blend billions of gallons of biofuels into the nation's fuel mix or buy credits - known as RINs - from those that do. The EPA can, however, award exemptions to some small refiners if they prove that the obligations cause them undue harm.
“We will continue to fight for our rights that we believe Wynnewood, Oklahoma refinery, is entitled to," CVR Energy Chief Executive David Lamp said during the company's first quarter earnings call in May, before the EPA's decision last week.

219 queries in 0.501 seconds.