The 2022 final rule represents the largest-ever volumes for total renewable fuels, including bio-based diesel, since the Renewable Fuel Standard was created. (Photo: Joe Murphy/Iowa Soybean Association)
Soybean Farmers, Biodiesel Producers Welcome Final EPA Rule on RFS Volumes, Small Refinery Waiver Denials
June 3, 2022 | Brock Johnston
Ankeny, Iowa – The Iowa Soybean Association (ISA) and Iowa Biodiesel Board (IBB) welcome the blending volumes announced June 3 by the Environmental Protection Agency (EPA), including the largest renewable volume obligation for biodiesel to date and denial of backlogged small refinery exemption requests. The agency set finalized volumes and rules for 2021 and 2022, while resetting 2020 volumes and standards.
Robb Ewoldt, ISA president and soybean farmer from Davenport, said:
“Securing the future of bio-based diesel is critical to the long-term success of Iowa’s soybean farmers, biodiesel producers and clean energy goals. Today’s announcement reflects growing understanding that homegrown energy offers a better solution to high fuel prices stoked by supply instability and increased oil prices. Biodiesel production supports 13% of the per bushel price of soybeans, which equated to approximately $1.78 per bushel in 2021. It also reduces feed costs for livestock producers by $25 to $40 per ton.”
Grant Kimberley, IBB executive director and ISA sr. director of market development, said:
“We support EPA’s efforts to set 2022 volumes in a way that allows for future growth and seeks to address high fuel prices and supply instability. Iowa soybean farmers and biodiesel producers rightfully view these volume obligations as welcomed movement in the right direction for the Renewable Fuel Standard heading into 2023.
“Farmers and biodiesel producers also welcome the EPA’s decision to also deny 72 pending small refinery exemptions from 2019, 2020 and 2021. This decision is an important piece to restoring the integrity of the RFS program – assuring our industry that the finalized volumes set today will be fully met, even with compliance flexibilities.”
By the numbers
The 2022 final rule represents the largest-ever volumes for total renewable fuels, including bio-based diesel, since the Renewable Fuel Standard was created: The agency has announced the following:
- The 2022 finalized rule sets bio-based diesel volumes at 2.76 billion gallons, up from 2.43 billion for 2020 and 2021.
- Overall volumes for 2022 are set at 20.63 billion gallons.
- Retroactive volumes for 2021 at 18.84 billion gallons, 2020 at 17.13 billion gallons.
Not funded by the soybean checkoff
The Iowa Soybean Association (www.iasoybeans.com) is “Driven To Deliver” increased soybean demand through market development and new uses, farmer-focused research and results, timely information and know-how and policy initiatives enabling farmers and the industry to flourish. Founded in 1964 by farmers to serve farmers, ISA is governed by a board of 22 farmers to advocate on behalf of the state’s 40,000 soybean producers, including more than 15,000 ISA farmer members and industry stakeholders.