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IRS and Treasury Issue Guidance on Section 40B Sustainable Aviation Fuel Credit

Section 40B of the Internal Revenue Code of 1986 (the “Code”) enacted by the Inflation Reduction Act of 2022 (the “IRA”) provides credits for each gallon of sustainable aviation fuel (“SAF”) sold or used by a taxpayer before...more

New Phase of EPA's Renewable Fuel Standard Program: Updated Targets for 2023 - 2025 and New Credit System for EVs

On December 1, 2022, the U.S. Environmental Protection Agency (“EPA”) announced its proposed rule under the Renewable Fuel Standard (“RFS”) program. For the first time, EPA establishes renewable fuel volumes and percentage...more

Acquiring and Defending Carbon Storage Rights

Carbon Capture and Sequestration (“CCS”), one form of which is known as Direct Air Capture, captures carbon dioxide (CO2) from man-made sources before CO2 is released into the atmosphere. The captured CO2 is then injected...more

EPA’s 2020 Renewable Fuel Standard Adopts New Methodologies That Diverge from Prior Interpretations

On December 19, 2019, the Environmental Protection Agency (“EPA”) issued its final rule for renewable fuel volume requirements for 2020 under the Renewable Fuel Standard (“RFS”) program. The rule establishes the amount of...more

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