To amend the Clean Air Act to permit the Administrator of the Environmental Protection Agency to waive the lifecycle greenhouse gas emission reduction requirements for renewable fuel production, and…

Amends the Clean Air Act to revise the definition of "lifecycle greenhouse gas emissions" to: (1) exclude significant indirect emissions; (2) provide that emissions are to be determined by the Environmental Protection Agency (EPA) Administrator based on the most recent observable data and on consideration of regional differences of renewable fuel production; and (3) require the Administrator to make the model used in measuring emissions publicly available before publishing any administrative action on such emissions.

Authorizes a renewable fuel manufacturer to petition the Administrator to waive, and the Administrator to waive, the lifecycle greenhouse gas emission reduction requirements for renewable fuel production if the requirements: (1) are the primary or contributing factor of a failure to achieve the applicable renewable fuels standard for biomass-based diesel, conventional biofuel, cellulosic biofuel, or advanced biofuel; (2) are causing economic harm within the biofuels industry; or (3) are increasing U.S. dependence on foreign oil.

Authorizes a renewable fuel manufacturer to petition the Administrator to certify an innovative production method that may result in lower lifecycle greenhouse gas emissions than the lifecycle greenhouse gas emissions of a renewable fuel. Considers a petition to be approved if the Administrator does not approve or deny it within 90 days of its receipt.

Prohibits such waivers from being granted in the case of a state low-carbon fuel standard or similar policy that requires a reduction in lifecycle greenhouse gas emissions for renewable fuels, unless the state standard or policy applies a lifecycle greenhouse gas emission baseline identical to the lifecycle greenhouse gas emissions as determined by EPA and used for the federal renewable fuels standard. Requires measurements taken under a state standard to be based on observable data relating to the direct lifecycle greenhouse gas emissions from the renewable fuel.