Narratives that pit the refining and petrochemical industries against electric vehicles (EVs) ignore the symbiotic relationship of these industries. If you review the history of EVs – you will see that refining and petrochemical companies have been foundational to the EV market all along and will continue to be far into the future.
Pay close attention as we continue diving into Renewable Fuel Standard (RFS) costs, because $770 per gallon is what the Environmental Protection Agency (EPA) is considering having you pay next year for every extra gallon of corn ethanol that might get blended BECAUSE of the RFS.
EPA’s RFS reallocation proposal could raise Americans’ 2026-2027 RFS bill to $150 billion, but if soybean oil prices jump significantly, total costs could reach $190 billion.
