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    EPA to Release New Renewable Fuel Standards

    Standard will outline use of 7.5 million gallons of renewable fuels by 2012.

    WASHINGTON -- The Environmental Protection Agency (EPA) is expected to release a final proposal for implantation of the renewable fuel standards mandated by Congress last year, reported Platts Oilgram News.

    The standards, passed by Congress, require the use of 4 million gallons of a renewable fuel source in fuel supplies nationwide in 2006. It also increases the amount of renewable fuels to 7.5 million gallons for use in the nations fuel supply by 2012.

    The standards also allow refiners and importers that use more their allotted level of renewable fuels in supplies to sell credits to companies that do not meet the allotment, Platts reported.

    The program is expected to be finalized in early 2007. Currently the EPA has a temporary program in place until the final program is implemented.

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