U.S. proposes cutting total biofuels requirements in 2018

Reuters: The U.S. government on Wednesday proposed to reduce the volume of biofuel required to be used in gasoline and diesel fuel next year as it signaled the first step toward a potential broader overhaul of its biofuels program.

The U.S. Environmental Protection Agency's proposed total volume marked a slight decline from current levels and was more than 20 percent below targets laid out in a 2007 law. The U.S. Renewable Fuel Standard, or RFS, requires increased volumes of renewable fuels each year, but the proposal would keep targets for use of conventional biofuels at current levels.

The agency has begun preparations to reset future biofuel targets, said EPA Administrator Scott Pruitt. His proposal was met with praise and calls for broader reform from the petroleum industry and mixed response from biofuels producers.

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