EPA's SRE Decision: Bullish for RINs, Limited Returns
US biofuel and feedstock markets were volatile ahead of the Trump administration’s decision on small refinery exemptions (SREs), which allow refiners processing under 75,000 b/d to avoid tens of millions in compliance costs by demonstrating economic hardship related to compliance with the US Renewable Fuel Standard (RFS). Earlier this week, the US EPA announced it has developed a new approach for reviewing small refinery exemptions (SREs) under the RFS. The announcement, filed 19 August. with the US Court of Appeals for the Tenth Circuit, came as part of a lawsuit over EPA’s past denial of Sinclair Wyoming Refining’s request for a 2018 exemption.