The goals for the amount of ethanol which has to be blended into gasoline as part of the Renewable Fuels Standard fall short of farmers’ expectations.
While the Environmental Protection Agency describes its proposed corn-based ethanol level of 13.4 billion gallons as “ambitious,” Illinois Farm Bureau President Richard Guebert says that’s below the 15 billion gallon mark set by Congress.
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“EPA is buying further into the oil industry arguments that it has hit the blend wall,” Guebert said. “It’s ironic to us that an administration that talks about the need to reduce greenhouse gases emissions places so little emphasis on biofuels.”
Guebert won’t speculate on whether lower gas prices and lower oil company profits played a role in the new proposed standard, though he acknowledges the timing is “interesting.”