API, AFPM make joint statement on the US Administration's Ccanges to biofuel mandate

If this arbitrary policy was conceived to help farmers, it provides no immediate relief — instead it only further distorts the fuels market

American Petroleum Institute president and CEO Mike Sommers.
American Petroleum Institute president and CEO Mike Sommers.

American Petroleum Institute (API) president and CEO Mike Sommers and American Fuel & Petrochemical Manufacturers (AFPM) president and CEO Chet Thompson released the following statement on the Trump Administration’s intent to significantly increase the 2020 US biofuel mandate.

“We are deeply concerned about the Administration’s decision to, once again, play politics with our fuel system by increasing an already onerous biofuel mandate, placing greater strain on the US manufacturers he promised to protect and threatening higher costs for consumers. The misguided reallocation of volumes punishes companies working to comply with the RFS and is an empty attempt to force more E15 into the fuel supply — a fuel nearly 70 percent of vehicles on the road were not designed to use.

“This rushed policy announcement is equivalent to changing the rules in the middle of the game and is a loser for the American consumer. If this arbitrary policy was conceived to help farmers, it provides no immediate relief — instead it only further distorts the fuels market. It is by no means a win-win. We will vigorously challenge this new policy in the weeks to come and continue advocating for Congress to reform the RFS.”

For the latest refining and petrochemical industry related videos, subscribe to our YouTube page.

For all the latest refining and petrochemical news from the Middle East countries, follow us on Twitter and LinkedIn, like us on Facebook.

You may also like

The UAE’s forward-looking guidance directing ADNOC’s 4-year transformation has increased the company’s resilience and agility, says ADNOC CEO
Speaking on ADNOC's 'Virtual Majlis', ADNOC CEO notes the OPEC-plus plus agreement and voluntary cuts outside OPEC are having a positive impact
ADNOC Distribution reports net profit of $108.92mn in Q1-2020
ADNOC Distribution announces new customer initiatives to combat impact of Covid-19
Amin Nasser reiterates well-being of employees as essential for the company’s business continuity plans
Saudi Aramco has undertaken stringent measures to tackle Covid-19, with the establishment of an executive task force headed by Nabeel A Al Jama’, acting service line head of operations and business services
Rompetrol to achieve digital transformation and triple bottom line performance with KBC digital twin
Petro-SIM connected digital twin to sustain margin improvements and underpin digital transformation activities

MOST POPULAR