Last week, part of EPA's much anticipated 2014 proposed RFS rule, or at least a draft of the rule, was leaked and widely disseminated. If the text of the leaked proposed rule is representative of the actual proposed rule, the oil and gas industry would likely view it more favorably than would the biofuels industry. In the leaked version of the proposal, EPA would use its authority under the RFS to adjust downward the cellulosic,...
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This week, it is reported that shareholders of leading U.S. cellulosic biofuels company, KiOR, sued the company, its Chief Executive Officer, and Chief Financial Officer, alleging that they reported misleading information on production projections, which artificially inflated the stock price paid. Last year, the company completed construction of its biorefinery in Columbus, Mississippi, which has the capacity to produce up to 13 million gallons per year of cellulosic biofuels made from woody...
Last week, a professor from Purdue University, Wallace Tyner, published an article concluding that EPA should reduce the overall and advanced RVOs under the RFS in years 2014-2016 to make the policy "workable." As we have reported, earlier this month, EPA released its final rule setting the 2013 RFS, in which the Agency included language indicating that it will likely reduce the overall and advanced RVOs for 2014 in that upcoming rulemaking. Tyner's article, which...