The Environmental Protection Agency is reportedly ready to scrap RIN market reforms as it readies a rule to allow year-round E15 sales. Bloomberg News reports the shift comes as the agency races to meet a May 31 rule making deadline.
The official summer driving season starts Saturday, leaving little time to announce the rule. The RIN market modifications are part of the same rule allowing year-round E15. However, for the rule to benefit drivers this year, it’s thought that the rule must be finalized before the summer driving season. The market reforms would have implemented trading restrictions on RIN credits.
While the EPA may be backing off the aggressive RIN market reforms, agency officials will apparently continue to evaluate other market changes requested by President Trump. Year-round E15 sales is a welcome move by the U.S. biofuel industry and corn farmers because it has the potential to increase demand for U.S. ethanol.