The legal uncertainty led the EPA to announce in March last year it was extending the deadline for small refineries to comply with the 2019 quotas. Compliance is usually required each March for the previous year. The agency also has held off deciding on 32 pending applications from small refineries for waivers from the 2019 quotas, while the 10th Circuit ruling was appealed to the Supreme Court.
Approvals for most of those pending 2019 small-refinery exemptions are set to be announced Thursday, said people familiar with the matter. The waivers would not be granted to refineries directly affected by last year’s 10th Circuit ruling, said the people.
Exemptions could benefit independent refiners such as PBF Energy Inc., CVR Energy Inc., HollyFrontier Corp. and Delek U.S. Energy Inc., Height Capital Markets said in a research note for clients. And ClearView Energy Partners said approved exemptions would likely drive a further decline in the price of renewable identification numbers, the compliance credits refiners use to prove they have fulfilled annual biofuel-blending quotas.
EPA officials had downplayed the possibility of exemptions, telling some stakeholders not to expect waiver approvals soon, according to two people familiar with the conversations. And before the Supreme Court agreed to hear …Summary on EPA Readies Biofuel Waivers, Delays for Trump’s Final Days provided by on