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.
A new campaign from the American Fuel & Petrochemical Manufacturers (AFPM) spotlights the surging costs and unprecedented impact of biofuel mandates on U.S. refineries and the need for immediate action to get RFS costs under control.
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.
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.
The Supreme Court is set to review RFS small refinery relief—what’s required to qualify and whether any small refinery can be forever disqualified.
EPA Administrator Andrew Wheeler — the 15th person in history to head the Environmental Protection Agency — visited AFPM recently to discuss with Chet Thompson the Agency’s approach to regulatory reform.