EPA Lowers Renewable Fuels Standard
(Des Moines) -- The Environmental Protection Agency announced the long-awaited renewable fuels standard on Monday, and ethanol industry officials are disappointed. Monte Shaw serves as the executive director with the Iowa Renewable Fuels Association. He says the EPA only solidified big oil company's monopoly on this nation's fuel source.
Shaw says Congress had set the production levels for ethanol at 15 billion gallons for the years 2015 and 2016. The Environmental Protection Agency has instead set the ethanol production levels slightly above 14 billion gallons for 2015 and 14.5 billion gallons for 2016. Shaw says the actions of the E-P-A will hurt the farm economy and the midwest economy.
The ethanol industry official believes the EPA's actions may result in the slowdown for future ethanol investments.