The U.S. Environmental Protection Agency will propose increases in the amount of ethanol and other biofuels that oil refiners must blend into their fuel over the next three years, two sources familiar with the matter said.
The EPA will also seek for the first time to make the use of biofuels to charge electric vehicles part of the renewable fuel program, giving car makers like Tesla Inc
The agency's long-awaited proposal, expected later this week, will call for overall blending mandates of 20.82 billion gallons in 2023, 21.87 billion gallons in 2024 and 22.68 billion gallons in 2025, the sources said. So-called D3 credit volumes will grow from 720 million in 2023 to 2.13 billion by 2025, with overwhelming majority of the growth coming from credits generated by electric vehicles, or E-RINs. The electricity to power the cars must come from renewable sources of biogas, such as methane from landfills.
While Congress set out specific goals through 2022, the law expands the EPA's authority for 2023 and beyond to change the way the RFS is administered. Starting next year, the agency has leeway to set multi-year mandates and make other changes.
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