American Coalition for Ethanol (ACE) CEO Brian Jennings issued a statement after the announcement from the US Environmental Protection Agency (EPA) regarding the backlog of nearly 200 small refinery exemptions (SREs) under the Renewable Fuel Standard (RFS). He said: “EPA appears to be carefully trying to balance the recent case law and the RFS statute when it comes to their new methodology for small refinery exemptions. “The good news is that EPA is proposing to reallocate any and all small refinery exemptions they grant for 2023 and beyond, which is how the SRE program should be implemented. “That may be true, and we will carefully monitor how the D6 RIN market reacts to this news. In the past, SREs led to depressed RIN values which discourages blending of E15 and higher blends.