AFPM: The latest Renewable Fuel Standard (RFS) proposal from President Biden’s Environmental Protection Agency (EPA) is going to cost American refiners and drivers more than $25 billion every single year, and if you can believe it, it also includes a never-before-seen wealth transfer from the refining industry to electric vehicle manufacturers.
EPA is required to take public comments on proposals like these, so please—while we still have time to submit feedback—use the draft letter to the right to share your thoughts with President Biden and the EPA staff.
This year, the federal government had the perfect opportunity to fix the Renewable Fuel Standard (RFS) by cutting compliance costs for refineries, setting achievable biofuel blending volumes and recognizing the many investments refiners continue to make in renewable fuels.
Unfortunately, the Environmental Protection Agency’s (EPA’s) recent RFS proposal doesn’t just miss the mark, it actually stands to make the RFS a bigger regulatory mess. That’s why I’m hoping you’ll take just a few minutes to send an email to President Biden and the EPA urging them to make some critical changes to their RFS proposal.
If EPA doesn’t adjust their proposal, individual refineries are going to have to pay for three consecutive years of record-size RFS mandates, including an unbelievable new requirement for refineries to cut checks directly to electric vehicle manufacturers. Seriously. This RFS would take money directly out of refinery operating budgets to pad the pockets of companies like Tesla and GM.
By the government’s own estimation, an RFS this size—with its growing electric vehicle subsidies— is going to cost our industry and American drivers $25 billion or more… Every. Single. Year. This will make it more expensive to produce gasoline and diesel for American drivers, and could even threaten refinery jobs, growth projects and the ability for some facilities to stay in business. EPA needs to get that message loud and clear and the deadline to send them an email is February 10, 2023.
If you follow the link to the AFPM EMPOWER site, we’ve got a draft email started for you on this topic that you can personalize as you see fit.
