Oil refining companies and their labor union representatives pressed the Environmental Protection Agency at a virtual meeting last week to lower costs of the nation’s biofuel blending program when it resets the policy next year, Reuters reported, citing sources familiar with the call.
In the virtual meeting last week, representatives of PBF Energy Inc. and Monroe Energy LLC discussed RINs policy with EPA officials, according to three sources familiar with the matter. Two of the sources said refinery representatives asked EPA for measures that could lower the steep costs of the credits. Small refiners say high RINs costs could put them out of business.
EPA reportedly told the refiners and labor groups they need to appeal to lawmakers or officials in the administration for any changes to RINs policy and pricing, two of the sources said.
EPA said it has met with multiple stakeholders over the last several months to gather input on the upcoming RFS proposal. “We encourage stakeholders to share their perspectives with us and other parts of the administration to ensure our regulatory decisions are based on the best information possible,” said EPA spokesperson Lindsay Hamilton.
EPA is also expected to somehow incorporate the electric vehicle industry into the next phase of the RFS, which would help advance President Joe Biden’s efforts to reduce greenhouse gas emissions from transportation and fight climate change. Refiners and biofuel producers both oppose that idea.
