EPA’s Bankruptcy Settlement with Philadelphia Energy Regarding the Federal Renewable Fuel Standard: One-off Deal or Harbinger of More to Come?

The Clean Air Act’s Renewable Fuel Standard program, which is enforced by the Environmental Protection Agency (the “EPA”), requires U.S. oil refiners and importers to blend a certain quantity of renewable fuels into the fuels they produce and sell in the United States, or purchase compliance credits called Renewable Identification Numbers to otherwise satisfy their obligations under the program. This article discusses a recent EPA bankruptcy settlement with Philadelphia Energy regarding the federal Renewable Fuel Standard.