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American Petroleum Institute speak out on 'broken RFS'

Hydrocarbon Engineering,

In a conference call with reporters, Downstream Group Director of the API, Bob Greco said the RFS is ‘broken beyond repair’. He also previewed a new analysis on the RFS that the API is sharing with members of Congress.

‘The state of energy and the economy were very different when Congress passed the Energy Independence and Security Act of 2007…We’re calling this the RFS reality gap.

‘Demand for gasoline is down…the US has drastically increased its domestic crude oil production and lowered imports…and the assumed production levels of advanced cellulosic biofuels have disappointed year after year.

‘All of this proves that while the RFS may have been well intentioned six years ago, it is a dangerous relic of America’s era of fuel scarcity. Today, the RFS is not just outdated; it is bad public policy that is poised to harm millions of consumers.

‘We’re meeting with members of Congress to help them understand the severe economic consequences that could occur unless they take action.’

Adapted from press release by Claira Lloyd

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