WASHINGTON, DC – Michael McAdams, President of the Advanced Biofuels Association (ABFA), issued the following statement in response to the U.S. Environmental Protection Agency’s (EPA) ruling on petitions from oil refineries seeking exemptions to obligations under the Renewable Fuel Standard (RFS).

“We are grateful to see EPA take action addressing the extensive backlog of Small Refinery Exemptions. ABFA is also pleased that the Agency plans to prepare a supplemental proposed rule for the reallocation of the exempted volumes for those years where compliance is yet to be demonstrated as well as how to account for exemptions in future years.

“Exemptions have a significant impact on the value of Renewable Identification Numbers (RINs). When RIN values drop, the entire advanced biofuels market is destabilized and put at risk, significantly impacting consumers downstream. ABFA looks forward to reviewing the proposed rule for reallocation and forecasting adjustments that can strengthen the market for all parties”