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Grassley analysis finds RFS has ‘minimal impact’ on success of refineries
Iowa Senator Chuck Grassley says an analysis finds that the Renewable Fuel Standard has a minimal impact on the success of oil refineries.
Grassley says his energy policy staff analyzed claims by opponents of the RFS, including Pennsylvania-based oil refiner Philadelphia Energy Solutions (PES), which attributed its recent bankruptcy in part to the RFS.
“The analysis finds that the biofuels blending requirement and the cost RINs have very little to do with the success of refineries, and were not significant factors in the PES bankruptcy,” Grassley says.
After reviewing the facts, Grassley says he is confident that the RFS is not harming refineries. He says there are other factors at work and the RFS law is working as Congress intended.
“Once these facts are known, there ought to be an end to the misleading rhetoric blaming the RFS.”
Grassley says making E15 available year-round would help solve the RIN issue. He also suggests the EPA could do more to provide transparency to the RIN market.
AUDIO: Comments from Grassley in his Tuesday morning conference with ag reporters
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