EPA and the RFS

Because the US Environmental Protection Agency has received few accolades in this space since, oh, the beginning of Barack Obama's presidency, the chance to cheer something emanating from that energetic realm is welcome. The EPA deserves applause for proposing to lower next year's volumetric sales requirements under the Renewable Fuel Standard. Let elation begin. Now let elation cease. The agency has simply accommodated its action to market realities clear to nearly everyone. While this is progress, for an important federal agency it should be standard operating procedure, not a reason to celebrate. The proposal The EPA proposes to require sales of 15.21 billion gal of renewable fuel in 2...

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