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.
COVID-19 upended energy markets. Demand disappeared and producers scaled back. Now that economies are reopening, and the demand for goods and services is rebounding, the demand for energy all along the supply chain is increasing, driving up not only the cost of the feedstocks and fuels refineries and petrochemical manufacturers use, but also the cost of the energy used at every step of the supply chain.
WASHINGTON, D.C. – AFPM President & CEO Chet Thompson today issued the following statement on the joint effort spearheaded by West Virginia Senator Shelley Moore Capito and 14 of her colleagues.
WASHINGTON, D.C. – Today, AFPM issued the following statement in response to an announcement from the Environmental Protection Agency (EPA) that it supports the January 2020 ruling from the 10 th Circuit Court of Appeals.
WASHINGTON, D.C. – AFPM president & CEO Chet Thompson, on behalf of United States refineries, today sent an appeal to new EPA Administrator Michael Regan urging him to take swift action on the Renewable Fuel Standard (RFS) by extending compliance deadlines and setting achievable targets for the current and coming years.
WASHINGTON, D.C. – AFPM appreciates the quick action taken by Administrator Regan and EPA staff to formally extend Renewable Fuel Standard compliance deadlines. In this moment, with surging RIN prices and slowly recovering fuel demand, refineries welcome this extra time and the flexibility it affords them to figure out how they will fulfill their individual RIN obligations.
Reducing emissions from the transportation sector is a focal point o many strategies to address climate change.iAnd within transportation, heavy freight poses a specific challenge.
WASHINGTON, D.C. – This is a commonsense administration decision. We’re still waiting for EPA to make a call on 2019 and 2020 relief petitions and there remains no 2021 or 2022 proposals, much less final rules, from the Agency to guide business decisions for refineries. We all know RIN scarcity is real and clarity about future obligations is needed in order for facilities to align around their individual compliance strategies.
