US environmental regulators cut biofuel targets, extend compliance deadline
What happened
US environmental regulators are proposing to lower the amount of cellulosic biofuel required for 2024. This means companies will have more time to meet their biofuel obligations for the year.
Why it matters
The US has a law that requires a certain amount of renewable fuel to be mixed into gasoline and diesel. This rule change means that a specific type of biofuel, made from plant waste, is not being produced as quickly as expected. It signals that the targets set for these advanced biofuels are proving difficult to meet in practice.
The signal
Watch whether the production of cellulosic biofuel increases significantly in the coming years, or if these targets continue to be lowered.