The U.S. Environmental Protection Agency (EPA) announced last week it had finalized a rule that would give oil refiners more time to comply with the U.S. Renewable Fuel Standard (RFS), including those from previous years, Reuters reported.

The announcement of the extension drew criticism from the biofuels industry, which has dealt with delayed compliance deadlines frequently in the past.

“With this final rule, EPA just gave itself the power to perpetually delay implementation of...