Higher U.S. Biofuel Blending Requirements Expected this Week

The US Environmental Protection Agency will propose an ethanol and biofuel increase that blenders will be required to add to their fuels over the next three years according to Reuters sources.

• 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.
• In each of those years, volumes of conventional biofuels like corn-based ethanol will be set at 15 billion gallons or higher, the sources said - specifically 15 billion in 2023 and 15.25 billion each in 2024 and 2025, the sources said.
• The EPA's biofuel mandate for the current year is 20.88 billion gallons.
• Many oil companies have been heavily opposed to biofuel taking higher volumes of market share away from fossil fuels as part of blending requirements.