POET Applauds EPA Rule

Joshua Shields, POET Senior Vice President of Government Affairs and Communications, issued the following statement in response to the U.S. Environmental Protection Agency’s (EPA) proposed rule shaping the Renewable Fuel Standard for 2023, 2024, and 2025:

“POET applauds the President as well as EPA Administrator Regan for encouraging growth in our renewable fuels sector. As the lowest carbon liquid fuel available today, biofuels serve an important role in decarbonizing the transportation sector.”

The EPA’s proposed rulemaking sets total renewable fuel 2023 volumes at 20.82 billion gallons, with 15 billion gallons implied conventional biofuel, 5.82 billion gallons of advanced biofuel, and 720 million gallons of cellulosic biofuel. For 2024, the proposal raises implied conventional biofuel volumes to 15.25 billion gallons, advanced biofuel to 6.62 billion gallons, and cellulosic biofuel to 1.42 billion gallons. EPA’s proposal sets 2025 gallons at 15.25 billion gallons for implied conventional biofuel, 7.43 billion gallons for advanced, and 2.13 billion gallons for cellulosic biofuel.

“The EPA’s proposal is a strong step toward ensuring renewable fuels continue to grow under the Renewable Fuel Standard, which affordably decarbonizes the nation’s existing vehicle fleet, creates clean energy jobs, and supports American farmers,” said Shields. “We look forward to the future of biofuels in transportation and are grateful that the EPA recognizes our ability to grow and innovate.”