August 7, 2008

Word on the street: EPA to deny RFS waiver

According to this article on CNBC, the Environmental Protection Agency will deny Texas' request to cut the federal ethanol mandate today. They cite an anonymous government official "with knowledge of matter".

Other reports indicate similar expectations.

The announcement is expected at noon (Central).

Texas Gov. Rick Perry requested a waiver for half of the Renewable Fuels Standard (RFS) back in April. The announcement from EPA was expected a few weeks ago, but EPA put off the decision to further analyze data and comments.

Separately, the Consumer Federation of America said today that reducing the RFS, as requested by Perry, would increase gasoline prices substantially. Dr. Mark Cooper, CFA’s Director of Research, said research indicates the price of gasoline would rise by almost 50 cents per gallon. CFA's analysis was submitted to EPA in its official comments.

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