renewable fuel standard

Market Manipulation in the Renewable Fuel Market Does Not Mean Market Manipulation in California’s Cap-and-Trade Program

It remains to be seen whether EPA will respond to the Times article by regulating the renewable fuel market in a way that virtually all other environmental trading markets do.

The New York Times article yesterday about Wall Street firms exploiting the market for renewable fuel credits and driving up prices could leave some observers worrying about the integrity of California’s market for carbon allowances under its cap-and-trade program.  It shouldn’t. Here’s why.


Cellulosic Biofuel mandate for 2013

I mentioned the other day that the D.C. Circuit struck EPA’s cellulosic biofuel mandate for 2012. Today, the New York Times reported on EPA’s 2013 quota. EPA has proposed to  raise the mandate to 14 million (ethanol-equivalent) gallons for 2013. EPA explicitly stated that it believes its 2013 proposal “is consistent with” the D.C. Circuit …


D.C. Circuit’s biofuels mandate ruling

The D.C. Circuit issued an opinion last Friday in American Petroleum Institute v. EPA, concerning EPA’s biofuels mandate. (N.Y. Times; slip opinion). The part of the mandate at issue required refiners to incorporate higher levels of cellulosic fuel into transportation fuel. Cellulosic biofuel is in the class of “advanced biofuels” that could actually offset greenhouse gas …