Eight months after the legal deadline the Obama Administration has released the 2013 Renewable Fuels Standard rule. More importantly it promised waivers next year that will supposedly keep this badly designed law from inflating gasoline prices.
In 2005, Congress imposed the RFS on America. The RFS mandates yearly increases in the amount of ethanol that is used in motor fuel, on an increasing schedule, through 2022. Problem is, nobody anticipated a crummy economy, high gasoline prices and shrinking consumption of motor fuel.
America's oil refiners are preparing to intensify efforts to press the federal government to drop mandates to encourage the development of advanced biofuels and counter the Obama administration's "war on fossil fuels."