Explainer: What is at stake for the U.S. biofuel blending law in 2022 and beyond
NEW YORK, Jan 11 (Reuters) - The U.S. biofuel blending program known as the Renewable Fuel Standard (RFS) could see its most transformative year yet in 2022, as the Biden Administration must make decisions to reset statutes that mandate U.S. renewable fuel blending.
The program was designed to mandate certain volumes of renewable fuels to replace or reduce petroleum-based fuels. Oil refiners, which are required to blend the billions of gallons of biofuels into their fuel mix, say the program is too costly and needs to be reined in, while corn farmers and biofuel producers like the standards, as they have helped to build a multi-billion gallon market for their products.
