Biden Administration Raises Biofuel Mandates But Cuts Back Corn Ethanol Targets

The Biden administration announced it will increase the amount of biofuels oil companies must blend into fuel over the next three years.
The plan includes lower targets for corn-based ethanol than initially proposed, which has angered the ethanol industry.
The finalized volumes mandate 20.94 billion gallons of biofuels in 2023, 21.54 billion gallons in 2024 and 22.33 billion gallons in 2025.
The plan aims to encourage more use of biogas, biomass, and cellulosic biofuels rather than conventional biofuels like corn ethanol.
The new biofuel mandates mark a new phase in the U.S. Renewable Fuel Standard program that requires increased use of renewable fuels in response to climate change.