American Coalition for Ethanol (ACE) CEO Brian Jennings released the following statement following news that President Trump decided to indefinitely delay a memo proposing changes to the Renewable Fuel Standard (RFS) including allowing refiners to get RIN credits on exports of renewable fuel.
“ACE extends our gratitude to Republican and Democratic Senators, especially Iowa Senators Grassley and Ernst, for convincing the White House not to proceed with changes to the Renewable Fuel Standard. We appreciate the President in this case sided with farmers over oil refiners and EPA Administrator Pruitt. We also thank our grassroots members who contacted their Members of Congress and the White House.
“Granting RVP relief for E15 in exchange with export RIN credits for refiners would have unquestionably been a loss for rural America and consumers because the benefits of selling E15 year-round would have been wiped out by export RINs.
“Where does this leave us today?
“The President has promised to allow E15 use year-round but EPA has failed to make good on his promise. Meanwhile, EPA’s misuse of the RFS has resulted in at least 1.5 billion gallons of ethanol demand destruction through small refinery waivers which have driven RIN values down by more than 70 percent this year. ACE has joined with allies to litigate the ‘hardship’ waivers but damage has already been done as ethanol blending is down despite the fact that gasoline use is on the rise. We need EPA to follow through on the President’s promise that E15 use will be allowed year-round and to stop the secret refinery waivers. We look forward to working with Congress and the Administration to grow demand for ethanol.”
