DuPont issued a statement in response to the U.S. Environmental Protection Agency’s proposed rulemaking about blending targets under the Renewable Fuels Standard (RFS) for 2014, 2015 and 2016. DuPont has a large vested interest in the advanced biofuels segment since it is constructing a cellulosic ethanol processing facility near Nevada, Iowa, and is interested in other biofuels projects using its cellulosic production technology.
DuPont is disappointed with the EPA’s proposed rule on the 2014, 2015 and 2016 Renewable Volume Obligations under the RFS. Our primary concern continues to be that the EPA is proposing a flawed methodology to fundamentally change how the annual volumes for renewable fuel are calculated causing reductions in annual biofuel volumes. Instead of setting biofuels volumes, as required by statute and based on the industry’s ability to supply fuel, EPA has injected infrastructure considerations into the calculation. This approach undermines fundamental principles of the RFS which have been the foundation for the economic, energy security and environmental successes of the renewable fuel sector in the United States. The RFS has made homegrown renewable fuel 10 percent of our nation’s gasoline supply, lowered greenhouse gas emissions by 21 million metric tons, added $500 billion in value to America’s farmlands, lowered gas prices and created a real choice at the pump.
The uncertainty over the RFS has already reduced the investment momentum in the advanced and cellulosic sectors in the United States; this will only continue if EPA does not change course in the final RVOs for 2014, 2015 and 2016. The renewable fuels industry is global in nature with substantial, long-term business potential. DuPont will continue to vigorously pursue every opportunity to enable the growth of the renewable fuel and renewable materials sectors here and around the world. We remain committed to this industry and to bringing world-class technology and sustainable best practices to market to spur the growth of renewable industries worldwide.