H.R. 2460: Eliminating the RFS and Its Destructive Outcomes Act

This bill, officially titled "Eliminating the RFS and Its Destructive Outcomes Act," aims to repeal a specific part of the Clean Air Act that establishes the Renewable Fuel Standard (RFS). The RFS is a program managed by the Environmental Protection Agency (EPA) that requires a certain volume of renewable fuel to be incorporated into the transportation fuel supply in the United States. Here’s a breakdown of what the bill proposes:

Key Provisions

• The primary action of the bill is the repeal of Section 211(o) of the Clean Air Act, which is dedicated to the Renewable Fuel Standard.
• By repealing this section, the bill seeks to eliminate the requirement for fuel producers to blend a specified amount of renewable fuels, such as biofuels, into conventional gasoline and diesel.
• Additionally, the bill includes conforming amendments to ensure that other relevant sections of the Clean Air Act and the Petroleum Marketing Practices Act are updated to reflect the repeal of the RFS.

Implications of the Repeal

If this bill is enacted, it could have several implications:

• Fuel producers would no longer be mandated to purchase or blend renewable fuels, which may affect the market dynamics for various renewable energy sources.
• Without these requirements, it is possible that the usage of conventional fuels could increase, potentially impacting greenhouse gas emissions and environmental policies aimed at reducing carbon footprints.
• This change could lead to economic shifts within industries associated with renewable energy production, such as agriculture-based biofuels.
• It might affect consumer fuel prices, depending on how fuel producers respond to the removal of blending mandates.

Relevant Companies

• DHCA - A company involved in renewable energy solutions that might see a decrease in demand for its products.
• REGI - Renewable Energy Group, Inc. could be significantly impacted as the repeal may reduce the market for biodiesel.
• SUN - Sunoco LP, involved in fuel production, may experience changes related to renewable fuel requirements.