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  • Analysis and Critical Review of the Monte Carlo Simulation and Decision Analysis Used in EPA’s 2014 RFS Proposed Rule

    In proposing the 2014 RFS rule, the EPA, for the first time, utilized Probabilistic modeling in determining the standards. Probabilistic modeling involves assessing ranges and frequency distributions for input data and using random sampling techniques, such as Monte Carlo simulation (MCS) to develop a range of possible outcomes. While MCS could be an appropriate method for modeling uncertainties and evaluating the (RFS) volume estimates, these reports (Clemen report and Decision Strategies report) find mistakes and issues with EPA’s analysis, and discuss how the analysis is highly dependent upon modeling inputs. These independent analyses conducted by experts find shortcomings and make suggestions for EPA to improve their analysis.
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    Renewable Fuel Standard Facts

    The Energy Independence and Security Act of 2007 included an expanded Renewable Fuel Standard, which the EPA used to develop a final rule effective July 1, 2010. To comply with the Standard, biofuel producers and importers must blend increasing amounts of biofuels into gasoline and diesel.
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    U.S. Crude Oil Exports

    Consumers are among the first to benefit from free trade, and crude oil is no exception. Gasoline costs are tied to a global market; additional crude oil exports could help increase supplies, put downward pressure on the prices at the pump and create more jobs right here at home.
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    Liquefied Natural Gas: Exports - America’s Opportunity and Advantage

    LNG, or liquefied natural gas, is a clear, odorless, noncorrosive, nontoxic liquid that is formed when natural gas is cooled to around -260 F. This shrinks the volume by about 600 times, making the resource easier to store and transport through marine shipments.
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    API Map of LNG sites Critical to U.S. Export Goals

    API has launched a new web-based map tracking liquefied natural gas (LNG) export projects, including those waiting for approval from the federal government. Approval of the multi-billion dollar export terminals could create thousands of American jobs, strengthen the U.S. geopolitical position, reduce global emissions, and help the Obama administration to meet its promise to double American exports.
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  • U.S. LNG Exports: Impacts on Energy Markets and the Economy

    In order to inform the current policy debate surrounding the granting of licenses for U.S. exports of liquefied natural gas (LNG), the American Petroleum Institute (API) commissioned ICF International to undertake a study of the energy market and economic impacts of LNG exports.
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  • API Reply Comments regarding 2012 LNG Export Study with Preliminary ICF Results

    February 25, 2013 - The American Petroleum Institute (API) submitted these reply comments in response to various comments submitted during the initial comment period and in further support of the expeditious approval of pending LNG export applications by the U.S. Department of Energy (DOE).  Included with the comments is the Status Report and Preliminary Results: The Economic Impacts of U.S. LNG Exports, prepared by ICF International.
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    LNG Answers

    What are the benefits of exporting LNG? Create and support thousands of jobs, generate billions of dollars in government revenues, reduce our trade deficit, help the industry operate efficiently by maintaining production levels thereby enhancing energy security and increase domestic production of associated natural gas liquids (NGLs), putting downward pressure on prices of chemical manufacturing feedstocks.
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  • 2012 LNG Export Study – Comments of the American Petroleum Institute

    January 24, 2013 - The American Petroleum Institute (API) submitted these comments in support of the expeditious approval of pending LNG export applications by the U.S. Department of Energy.  API fully agrees with the conclusion of the DOE “2012 LNG Export Study” that, across all scenarios, the U.S. stands to gain net economic benefits from allowing LNG exports.
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  • The Impacts of U.S. Crude Oil Exports

    A new state-by-state analysis shows that 18 U.S. states could gain over 5,000 jobs each in 2020 from exports of U.S. crude oil. The U.S. is poised to become the world’s largest oil producer, and access to foreign customers will create economic opportunities across the country.
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