The US Environmental Protection Agency announced it will not finalize 2014 biofuel quotas under the federal Renewable Fuel Standard (RFS) before yearend. The American Petroleum Institute and American Fuel & Petrochemical Manufacturers each said EPA’s Nov. 21 announcement demonstrates again that it’s time for Congress to repeal or dramatically reform the RFS. “In light of this delay in issuing the 2014 RFS standards, the compliance demonstration deadline for the 2013 RFS standards will take place in 2015,” EPA said in its notice. “EPA will be making modifications to the EPA-Moderated Transaction System (EMTS) to ensure that Renewable Identification Numbers (RINs) generated in 2012 are valid for demonstrating compliance with the 2013 applicable standard,” it said. The quotas were established under the 2007 Energy Independence and Security Act. API and AFPM have each argued the standards are no longer […]