How big is this issue now?

It's a huge issue for us.

as an industry.

The President's EPA, Administrator Zeldin, finalized historic RVOs earlier this year, the highest blending requirements that we've ever seen.

those importantly were intentionally about triggering market forcing reactions, forcing more blending.

That's exactly what we want to see.

And that was because the administration wanted to support more renewable fuel production and blending as a way to support the rural economy.

Are those rules... crystal clear now with dotted i's and cross t's

Your ultimate question is for, for us as an industry, it's really less at this point about-

about-Are the SREs granted or not? It's are those gallons reallocated? Is that obligation reassigned so it doesn't come in the, at the cost of biofuel demand? So for those SREs, it's okay.

The bigger thing that we're looking at is the 34 pending requests for 2025.

So EPA has yet to act on those.

Um, that would be several hundred million RINs.

EPA, in their final RVOs, they did project, "We're gonna give away 990 million." So if they come up 990 or below, we're gonna be okay.

If they go above, that's when you're looking at some demand destruction for biofuel.

Yeah.

it is a step forward.

As we've learned with 45Z implementation, it's a bit of an iterative process.

And so there are a few additional steps that need to be taken to really allow producers to maximize this process.

credit and get maximum flexibility.

So what happened Friday with the Department of Energy announcement, they updated the model that is used for people to understand how do I take credit for this? What things that I do and what does that carbon intensity reduction equate to in terms of the actual tax credit? So that's something that all ethanol producers were really anxious to get because they need that for this tax year, the 2026 tax year.

And a couple important things that we got out of that announcement and the update.

It removed the flawed indirect land use change figures.

Where do the prospects for year-round E15, where do things sit right now in the Senate? What are you hearing, Emily?

This is something that we have been waiting for for 18 months, if not longer.

We have been.

You know, it seems to be an iterative process with 45Z implementation.

Every couple months, we get kind of a new update and more progress.

So the good news is, yes, DOE came out with their updated model for GREET that's specific to this tax credit.

So it gives more clarity for this tax year for how ethanol plants are going to be able to be eligible for the credit.

Importantly, there are a couple important things that are included in this.

What's the latest on E15 in the Senate?