Karen Matusic | 202.682.8118 | matusick@api.org
WASHINGTON, February 3, 2010 – The American Petroleum Institute issued the following statement today on the RFS2 announcement:
"While the U.S. oil and natural gas industry recognizes and appreciates the role of ethanol and other biofuels in the fuel marketplace, we are deeply concerned that the announcement today could result in higher consumer costs. By setting retroactive requirements, refiners, and ultimately consumers, will be penalized for EPA's inability to get this rule out on time as directed by Congress.
"The U.S. oil and natural gas industry are the biggest consumers of ethanol and other biofuels. Almost 80% of all gasoline now produced in the U.S. contains ethanol. API supports a realistic and workable renewable fuels standard (RFS). Given the complexity of this new regulation, we question how realistic and workable it will be."
Updated: February 3, 2010