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Delaware – Advanced BioFuels USA
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Refinery Renews Plea for Reform of Biofuel Standard as Credit Prices Inflict More Financial Pain – Advanced BioFuels USA
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Matt Lucey
Regarding Oil industry games in the Delaware Valley are played out, April 8:
Jan Koninckx’s recent missive in The News Journal that criticized PBF Energy’s stance on the federal Renewable Fuel Standard or RFS was a misrepresentation of a broken federal program that threatens the viability of America’s refining sector. If the RFS’ flaws are not addressed, American energy security and good-paying refinery jobs will continue to be at risk, including thousands of jobs in Delaware.
At its core, the RFS is currently a $25 billion stealth tax that two parties pay you the consumer and merchant refiners like PBF Energy. Instead of going to the government to fund infrastructure, the proceeds subsidize large, integrated oil companies and large retailers for simply engaging in their core, profitable businesses.
by Jan Koninckx (USA TODAY Network/Delaware Online) Every few years, leaders like Sen. Tom Carper and Sen. Chris Coons are on the receiving end of lobbying blitz by area petroleum refiners seeking to roll back the Renewable Fuel Standard. The 2005 law requires oil refiners to blend a modest, but growing volume of renewable energy into the nation’s fuel supply, which is now composed of about 10% biofuels.
Recently, PBF Energy ramped up their efforts, assuring investors last month that they are “actively, actively, actively engaged in Washington” to combat RFS. The president of the company even noted that the discussions have taken on a “sort of rinse, wash, repeat” feeling, with perennial warnings of an imminent economic crisis.