EPA's Small Refinery Exemptions Draw Mixed Reactions from Industry Leaders
The US Environmental Protection Agency (EPA) has granted 29 full and partial small refinery exemptions (SREs) to refineries, exempting 1.76 billion Renewable Identification Numbers (RINs). This move has sparked mixed reactions from various commodity and industry leaders.
Bryan Severs, chairman of the Illinois Soybean Growers, expressed support for the reallocation plan, stating that it will help preserve an estimated 500 million gallons of soybean-based biofuel demand and protect approximately $1 billion in soybean farm income.
Jed Bower, president of the National Corn Growers Association, however, expressed concern about the high number of SREs granted, but welcomed the administration's plan to reallocate RINs. He emphasized that a stable market for corn ethanol is crucial for the nation's drivers and biofuel producers.
The American Farm Bureau Federation (AFBF) also endorsed the plan, with President Zippy Duvall stating that it will help maintain robust demand for American grown crops.