Opponents of an Environmental Protection Agency proposal to reduce renewable fuel standards say the agency's indecision has slowed investment in the industry.
The EPA has proposed reducing the required volume of renewable fuels in the U.S. gasoline supply by 4 billion gallons this year and 5 billion gallons next year. The agency says Congress set the standards impossibly high in 2007 and they aren't being met.
Iowa Gov. Terry Branstad on Thursday accused the petroleum industry of pressuring the EPA to lower the standards through "misinformation and half-truths." He and Missouri Gov. Jay Nixon joined hundreds of others addressing the EPA about the proposed changes.
American Petroleum Institute spokesman Bob Greco says the standards need to be lower because demand for renewable fuels isn't high enough to meet them.
