Philadelphia Energy Solutions CEO Philip Rinaldi comments on EPA's decision around RINS

Aug 06, 2013, 14:34 ET from Philadelphia Energy Solutions

PHILADELPHIA, Aug. 6, 2013 /PRNewswire/ -- Philadelphia Energy Solutions CEO Philip Rinaldi comments on recent announcement by the EPA on RINS.

Philip Rinaldi said: "Today's strong action by the Environmental Protection Agency (regulatory announcement-overview) p 3-5 RA – overview should provide immediate relief from the extraordinary and unfortunate run-up in RINS prices.  By signaling that the EPA will adjust down the compliance obligations in 2014 to a level that the industry can reasonably achieve, the EPA has reduced upward pressure on gasoline and diesel prices for the benefit of consumers. We are grateful for the Administration's focus on the RINS issue and decision to act with clarity to return the RINS market to normalcy.  Many thanks to Governors Corbett and Markell, Senators Toomey and Casey, and Congressmen Brady and Meehan, for their vigorous, bipartisan advocacy on an issue that was negatively affecting the industry, workers and consumers on the East Coast.  In addition a heartfelt thanks to Gary Beevers and Jim Savage of the United Steel Workers. We are grateful for their incredible support on the issue."

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