What are the specifics of the RFS2?
It is necessary that biofuel processors obtain stability in the renewable energy industry through federal policy. The Environmental Protection Agency (EPA) has ensured biodiesel expansion by passing the RFS2. The EPA has announced the final rule for the implementation of the second phase of the Renewable Fuel Standard (RFS2) which requires the use of 500 million gallons of Biomass-based Diesel in 2009, increasing gradually to 1 billion gallons in 2012. From 2012 through 2022, a minimum of 1 billion gallons must be used domestically. The final ruling mandates refiners to either blend enough biodiesel into fuel to meet the standard or purchase renewable fuel credits, known as RIN’s, to make up the difference for both years. The EPA is also requiring refiners to disclose information on the annual purchase and sale of RIN’s. To qualify as Biomass-based Diesel, the fuel must reduce greenhouse gas (GHG) emissions by 50 percent compared to petroleum diesel. Biodiesel is the only fuel availabl
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