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Investing.com -- The U.S. Environmental Protection Agency (EPA) is preparing to release a new proposal concerning biofuel blending mandates. This upcoming proposal will span two years, as opposed to the initially expected three-year timeframe, according to a Reuters report on Tuesday.
The biofuel blending mandates are part of the U.S. law, requiring oil refiners to blend billions of gallons of biofuels into the country’s fuel supply. Alternatively, refiners have the option to purchase credits from those that have already blended biofuels into their fuel.
The new two-year proposal is a shift from the previous expectation of a three-year mandate. The specifics of the proposal, including the exact volume of biofuels to be blended, are yet to be disclosed.
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