NEW YORK (Reuters) — A spokesman for the White House Office of Management and Budget said on Wednesday that the agency is not yet reviewing a final rule on 2014 biofuel blending requirements, quashing rumours the rule has been submitted for White House review.
The agency in charge of the rule, the U.S. Environmental Protection Agency, has instead submitted a different rule related to the biofuel blending program, the spokesman said. That rule, called “RFS Pathways II and Amendments to the Renewable Fuel Standard,” was submitted on Monday, according to the OMB website. It does not include the 2014 biofuel blending requirements.
The rule’s submission had fuelled rumours among traders that the EPA had finalized its much-awaited blending requirements for 2014. The oil and ethanol industries are eagerly awaiting the final rule, which will dictate how much ethanol refiners must blend into their gasoline output in 2014.