Statement from Chet Thompson: A plain reading of the RFS makes clear that Congress intended for the small refinery hardship program to be a lasting safety net. There is no “use it or lose it” provision.
This week, AFPM joined API and industry associations representing fuel retailers, gasoline marketers, convenience stores and tank truck carriers to field questions from the media about the ongoing fuel distribution challenges resulting from the Colonial Pipeline shutdown.
A nationwide 95 RON octane standard for vehicles can deliver major carbon reductions in the nation’s light-duty auto fleet faster and at a lower cost than any other proposal being considered by policymakers right now, especially policies seeking to force nationwide vehicle electrification.
The cost of Renewable Fuel Standard (RFS) compliance credits, specifically D6 renewable identification numbers (RINs), is out of control. Sales of D6 RINs for conventional ethanol recently registered above $1.90 (the highest trades in history).
The Renewable Fuel Standard is more expensive in 2021 than at any other point in the program’s 15-year history. Soaring RFS prices signal that the RIN bank could run dry.
Refineries are not the story when it comes to retail gasoline prices. Raw materials (in this case crude oil) account for the biggest share of the final price consumers pay.
As more states limit the size of gatherings and even consider shelter-in-place policies in response to COVID-19, AFPM is working to see that refineries and petrochemical facilities.
WASHINGTON, D.C. – Today, the U.S. Department of Energy, Office of Fossil Energy and the U.S. Department of Transportation, Pipeline and Hazardous Materials Safety Administration formally submitted the Congressionally-mandated Sandia National Laboratories technical report on crude oil combustion properties to Congress.