U.S. To Meet EPA's New Renewable Fuel Standard in 2006
WASHINGTON (Reuters) - The Environmental Protection Agency said on Wednesday it expects the U.S. oil industry will meet the EPA's new standard that requires 2.78 percent of gasoline sold next year to be renewable fuel, such as ethanol.
Congress passed a broad energy bill which was signed into law in August, requiring ethanol production almost to double to 7.5 billion gallons a year by 2012 to help make gasoline burn cleaner, stretch available U.S. motor fuel supplies and reduce petroleum imports.
The EPA said it expects the renewable fuel standard for 2006 to be met collectively by the oil industry with the pool of gasoline sold to consumers.
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