Was 2011 a banner year for biofuels? It already seems like it was the year of big biofuel IPO announcements, and there’s now proof that production is steadily growing. The EPA has finalized the 2012 Renewable Fuels Standards (PDF), which all match projected targets thanks to reliable increases in production volume this year.
The RFS program is tasked with setting the minimum volume and percentage requirements for biofuels within the transportation sector every year. The current program, RFS2, was established in 2007 after an overhaul to the original program specifications. RFS2 has more closely matches the production ramping of the industry, and aims to set a minimum volume of 36 billion gallons of biofuel production by 2022