American Petroleum Institute criticizes EPA's latest ethanol standard
Under the latest RFS as finalized by the EPA, consumers stand to pay up to 26 cents more per gallon of gas if the EPA pushes to increase the ethanol volume to more than 10 percent, according to the Congressional Budget Office. The API also maintains that higher volumes of ethanol could potentially lead to consumers paying for repairs if their engines are damaged.
“We are disappointed that EPA has taken a step backwards with this final rule,” API Downstream Group Director Frank Macchiarola said. “The RFS mandate is a bad deal for the American consumer. Today’s announcement only serves to reinforce the need for Congress to repeal or significantly reform the RFS. Democrats and Republicans agree this program is a failure.”
The API voiced its support for the Flores-Welch RFS reform bill, which has bipartisan support from 117 co-sponsors in the House. The API has also urged the EPA to set the final ethanol mandate at a maximum of 9.7 percent.