WASHINGTON, July 15, 2013 – API Downstream Group Director Bob Greco said the Renewable Fuel Standard (RFS) is “broken beyond repair” in a briefing with reporters to announce a new API advertising campaign to repeal the RFS:
“Today, we’re launching ‘Fuel for Thought,’ a new TV, radio, and print ad campaign on the dangers of the RFS. The new ads are the first in a series designed to educate American consumers on why we must end this unworkable mandate.
“These ads will encourage more Americans to tell the White House to fix the problem before it’s too late, while urging Congress to completely repeal the RFS. Additionally, the ads drive people on our new website, FillUpOnFacts.com, where they can learn more about how the RFS can harm their vehicle and could disrupt the nation’s fuel supply.
“By mandating higher ethanol content in gasoline than is safe, the RFS threatens American consumers, the investments they’ve made in their vehicles and our economic wellbeing.
“The economic consequences from the continued implementation of the RFS are severe. A study by NERA Economic Consulting found that, by 2015, of the U.S. would see a 300 percent increase in the cost of diesel, and a 30 percent rise in the cost of gasoline.”
API is a national trade association that represents all segments of America’s technology-driven oil and natural gas industry. Its more than 500 members – including large integrated companies, exploration and production, refining, marketing, pipeline, and marine businesses, and service and supply firms – provide most of the nation’s energy. The industry also supports 9.2 million U.S. jobs and 7.7 percent of the U.S. economy, delivers $85 million a day in revenue to our government, and, since 2000, has invested over $2 trillion in U.S. capital projects to advance all forms of energy, including alternatives.