Post

American Petroleum Institute fights RFS

The American Petroleum Institute is using a new study to try to persuade the Obama Administration to waive the Renewable Fuels Standard and end E-15. 

The study found that by 2015, the economic consequences of continued implementation of the RFS may include a 300-percent increase in the cost of diesel, and a 30 percent rise in the cost of gasoline.  Bob Greco, with the American Petroleum Institute concedes that ethanol and other renewable fuels play an important role in America’s energy security.  But Greco adds that the federal RFS mandate is ill-conceived and continues to be inflexible.

According to the Renewable Fuels Association President, Bob Dinneen, the API is simply misleading consumers to believe that the RFS is going to increase prices at the pump.  He believes that the API study ignores the Standard’s flexibility to make it easier for refiners to meet their RFS obligation.

Dinneen also says that the Standard has created jobs and boosted the U.S. economy. A study commissioned by the RFS shows that the standard not only saves consumers money at the gas pump, but has very little to do with the rising cost of food.