PHILADELPHIA, Nov. 18, 2013 /PRNewswire/ -- Philadelphia Energy Solutions LLC CEO Philip Rinaldi comments on Friday's announcement by the EPA on proposed 2014 Renewable Fuels Standard.
"Philadelphia Energy Solutions LLC is encouraged by Friday's strong action by the Environmental Protection Agency in lowering the fuel ethanol blending mandates for 2014, better reflecting the realities of the marketplace," said Rinaldi. "We believe these important modifications to the 2014 Renewable Fuels Program will bring an end to the skyrocketing price of RINs experienced in 2013 and will establish an appropriate framework for setting ethanol blending requirements in future years. We are thankful to the Environmental Protection Agency and the Office of Management and Budget for their efforts in developing a workable solution to the runaway RINs market in this politically sensitive area."
"PES is also thankful for the vigorous regional bipartisan advocacy efforts supporting the resolution of this difficult issue, including the effective work of Pennsylvania Governor Corbett, Delaware Governor Markell, Senators Toomey and Casey, and Congressmen Brady and Meehan," added Rinaldi. "We also would like to once again publically thank Gary Beavers and Jim Savage of the United Steelworkers for their enthusiastic help."
About Philadelphia Energy Solutions
Philadelphia Energy Solutions (PES), headquartered in Philadelphia, Pennsylvania, is a leading manufacturer of petroleum and petrochemical products and operates two domestic refineries, Girard Point and Point Breeze, and is the longest continuously operating refinery on the East Coast, processing approximately 330,000 barrels of crude oil per day making it the largest oil refining complex on the Eastern seaboard.
For further information contact:
Cherice Corley 215-339-7061
SOURCE Philadelphia Energy Solutions