WASHINGTON, March 11, 2013 /PRNewswire-USNewswire/ -- American Fuel & Petrochemical Manufacturers (AFPM) President Charles T. Drevna issued the following statement following the withdrawal of its Petition for Waiver of the 2012 Cellulosic Biofuel Volumetric Requirements:
"We appreciate the Environmental Protection Agency's (EPA) prompt action to rescind the 2012 cellulosic renewable volume obligation (RVO) following a U.S. Court of Appeals' decision to vacate the 2012 cellulosic RVO. As a result of EPA's response, AFPM has withdrawn its waiver petition, since our members are no longer required to purchase credits for fuel that doesn't exist. We believe that EPA should reconsider proposed 2013 volumes, which suffer from the same shortcomings, and finalize a 2013 cellulosic biofuel RVO that reflects the Court's directive to aim for accuracy.
"While EPA's decision on the 2012 cellulosic RVO is the right one, it doesn't alleviate the waste of resources and time spent correcting just this one example of an impracticable Renewable Fuels Standard (RFS). A more immediate problem with the RFS is the fast-approaching blendwall, where EPA is mandating the consumption of ethanol in quantities that exceed the technological limitations of certain engines and refueling equipment. The result is a dramatic increase in the market price of ethanol RINs, which has risen nearly 1,000 percent since early January, with a predictable negative impact upon consumers of transportation fuels. AFPM encourages EPA to reevaluate the amount of ethanol that will be used to meet thresholds set as part of the RFS."
AFPM, the American Fuel & Petrochemical Manufacturers is a trade association representing high-tech American manufacturers of virtually the entire U.S. supply of gasoline, diesel, jet fuel, other fuels and home heating oil, as well as the petrochemicals used as building blocks for thousands of vital products in daily life. AFPM members make modern life possible and keep America moving and growing as they meet the needs of our nation and local communities, strengthen economic and national security, and support 2 million American jobs.
SOURCE American Fuel & Petrochemical Manufacturers