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New Jersey lawmakers urge EPA to reform renewable-fuels standard for small refiners
New Jersey lawmakers waded into a long-running battle by independent oil refiners for reform of a federal mandate that the companies say is costing them millions of dollars and threatening their survival.
Both the Senate and Assembly unanimously passed a resolution urging President Joe Biden and the Environmental Protection Agency to allow waivers to the Renewable Fuels Standard that would ease financial pressure on refiners such as Parsippany-based PBF Energy which employs about 225 people at a facility in Paulsboro.
To comply with the standard, PBF and other refiners who are unable to blend biofuels such as ethanol with gasoline and diesel are required instead to buy credits called Renewable Identification Numbers, or RINs, that have recently surged in price because they are traded on the open market.
South Jersey refinery says cost-mandated fuel credits threaten its survival whyy.org - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from whyy.org Daily Mail and Mail on Sunday newspapers.