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EPA Announces 2008 Renewable Fuels Standard
Release Date: 11/27/2007
Contact Information: Margot Perez-Sullivan (202) 564-4355 / email@example.com
(11/27/07) Today, the EPA is setting a new renewable fuels standard (RFS) of 4.66 percent to meet the 2005 Energy Policy Act's mandate that at least 5.4 billion gallons of renewable fuels be blended into transportation gasoline in 2008. Based on the standard, each party determines the minimum volume of renewable fuel that it must ensure is used in its motor vehicle fuel. The standard for 2007 was 4.02 percent, equating to roughly 4.7 billion gallons. The overall volume target increases every year, reaching 7.5 billion gallons in 2012. The Energy Policy Act requires EPA to annually determine the standard -- which applies to refiners, importers and non-oxygenate blenders of gasoline -- by Nov. 30 for the following year.
The RFS program, which formally began last September, creates new markets for farm products, increases energy security, and promotes the development of advanced technologies that would greatly expand renewable and alternative fuels. It also serves as one of the many pieces to help inform the greenhouse gas regulation that EPA and federal partners are developing under an Executive Order issued by President Bush in May.
More information on the RFS Notice of 2008 Requirement: epa.gov/otaq/renewablefuels