A new Congressional Budget Office report looking at the Renewable Fuel Standard says the biofuels industry is unlikely to meet it 36 million gallon mandate by 2022. The report was completed as part of an ongoing examination of the RFS by the House Energy and Commerce Committee. But Geoff Cooper with the Renewable Fuels Association says the Committee is making some incorrect assumptions.
The CBO report also paints a bleak picture of the cellulosic ethanol industry’s chances of meeting the RFS targets. However, Cooper says the CBO is way off base.
One of the more interesting conclusions reached by the CBO is that regardless of whether or not the RFS was repealed, food prices would be similar.