“On November 29, 2013, EPA published a notice of proposed rulemaking to establish the 2014 RFS standards. The proposal has generated significant comment and controversy, particularly about how volumes should be set in light of lower gasoline consumption than had been forecast at the time that the Energy Independence and Security Act was enacted… which will reduce the greenhouse gases emitted from the consumption of transportation fuels and diversify the nation’s fuel supply” (renewableenergyworld.com).
Leaders of energy and fuel industries rejoiced as the EPA announced that it plans to further delay the release of the standards. They are pleased to see that the EPA heard their outcry and supports the industry enough to postpone their legislation. Michael McAdams, President of the Advanced Biofuels Association speaks on the matter:
“Today, EPA hit the big reset button. Given the fact that we are already at the end of 2014, we appreciate EPA’s recognition that the real importance is to set the program on a clear glide path for 2015 and 2016… We appreciate how EPA recognized that cutting requirements for advanced biofuels would be a mistake. This emerging industry deserves better considering it has already demonstrated the capacity to generate 3.2 billion gallons of advanced biofuel annually. But, at least EPA’s decision leaves the glass more than half full and allow us to get back on track next year” (renewableenergyworld.com).
Had the EPA followed through with the announcement of their standards, the renewable energy industry would have likely suffered a huge loss and its recent forward progress would have been hindered greatly. Divesting entirely in biofuels and once would cause the industry to crash; an industry that is still slightly fragile and receives mixed support from across the legislature.