Low Carbon Fuel Standard Act of 2009

Low Carbon Fuel Standard Act of 2009 - Amends the Clean Air Act to require the Administrator of the Environmental Protection Agency (EPA) to issue regulations that: (1) determine the lifecycle greenhouse gas emissions of all transportation fuels; (2) determine the fuel emission baseline (i.e., average lifecycle greenhouse gas emissions per unit of energy of all transportation fuels sold in the United States in 2005); (3) apply to refineries, blenders, and importers of transportation fuel; (4) ensure that, for 2014-2022, annual average lifecycle greenhouse gas emissions do not exceed the fuel emission baseline; and (5) ensure that, for 2023 and thereafter, transportation fuel providers make specified reductions in the annual average lifecycle greenhouse gas emissions for transportation fuel sold in the United States.

Grants the Administrator authority to waive emission reduction requirements of this Act to prevent economic or environmental harm. Requires the Administrator to study the environmental and resource conservation impacts of the regulations required by this Act and their effect on energy security.