The U.S. Environmental Protection Agency (EPA) announced today the final Renewable Volume Obligations (RVO) for the 2018 conventional biofuels requirement at 15 billion gallons under the Renewable Fuel Standard (RFS). We are pleased to see the EPA hitting the statutory target for corn ethanol. This comes as good news for Iowa corn farmers who now face tough economic times and for consumers who want affordable, homegrown fuel choices. We thank U.S. Senators Grassley and Ernst for their steadfast, unwavering support of maintaining a strong RFS through this rule making process.
The RFS is a federal law that requires domestic, renewable, cleaner-burning ethanol to be blended into the nation’s fuel supply. Congress adopted the RFS in 2005 and expanded it in 2007. The program requires oil companies to blend increasing volumes of renewable fuels with gasoline and diesel, culminating with 36 billion gallons in 2022. RVOs are set annually by EPA to determine the amount of renewable fuel blended into our fuel.
The RFS has been one of America’s most successful energy policies ever. It has made our air cleaner. It has spurred investment in rural communities and created high-tech jobs. It has given drivers more choices at the gas pump. And it has reduced our dependency on foreign oil. It moves America forward as a leader in clean energy.
Iowa Corn will continue to work to grow the renewable fuel market by improving the infrastructure for higher ethanol blends (E15 and E85) and promoting the use of higher blends with automakers, fuel retailers and consumers to gain more demand for corn-based ethanol. For more information, go to www.iowacorn.org.