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Iowa Biodiesel Board statement on July 1 start to Renewable Fuels Standard Bookmark and Share

07/01/2010

The new federal Renewable Fuels Standard should bring some relief to Iowa's biodiesel producers.

Contacts:  Jenna Higgins Rose/Rose Media
(573) 234-8935
   

July 1, 2010



Iowa Biodiesel Board statement on July 1 start to Renewable Fuels Standard

ANKENY, Iowa –  The Environmental Protection Agency begins enforcement of a new federal Renewable Fuels Standard (RFS-2) today.  The RFS-2 sets a requirement that petroleum companies blend at least 650 million gallons of “biomass-based diesel” into the fuel supply in 2010.  They are also obligated to meet anything remaining from the 2009 requirement of 500 million gallons. 

Randy Olson, executive director of the Iowa Biodiesel Board issued this statement:

“The July 1 start date of the new renewable fuels standard should bring some relief to our state’s biodiesel producers, many of which have virtually shut down since the collapse of the federal tax credit for biodiesel.  Our members tell us that a few gallons of Iowa-produced biodiesel are moving again as some petroleum companies step forward to meet their obligation of blending this reasonable amount of biodiesel in 2010. 

“However it is important to remember that the RFS-2 was never intended to be a market driver.  Rather, the modest targets make it a safety net.  It is badly needed right now as demand has reversed course due to the slowdown in the economy and the lapse of the federal incentive.  We ask EPA to stay committed to enforcement of the RFS-2, recognizing that the biodiesel industry supports many green energy jobs, and contributes to our economy, our air quality and energy security.”    
 


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