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API - American Petroleum Institute : Industry, Consumer Groups say EPA took steps to protect consumers from blend wall, but more needs to be done

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11/15/2013 | 07:40pm EST
Carlton Carroll | 202.682.8114 | carrollc@api.org

WASHINGTON, November 15, 2013 - API President and CEO Jack Gerard along with groups representing industries, farmers, restaurants and consumers held a conference call to discuss EPA's 2014 RFS requirements.

"We've organized this joint press call with a variety of other groups that are concerned about the problems with the RFS, to demonstrate the broad impacts on our economy and consumers from the higher ethanol levels mandated by EPA," said API President and CEO Jack Gerard.

"For the first time, EPA has acknowledged that the blend wall is a dangerous reality that must be addressed to avoid serious impacts on America's fuel supply and would be harmful for American consumers.

"While the agency took a step in the right direction, more must be done to ensure Americans have the choice of ethanol-free gasoline for boats and small engines, and to bring their mandates closer to reality on cellulosic biofuels, which do not exist in commercial quantities.

"Ultimately, Congress must protect consumers by repealing this outdated and unworkable program once and for all."

Left untouched, the mandate could cause severe fuel rationing, drive up the cost of diesel by 300 percent and the cost of gasoline by 30 percent by 2015, and lead to a $770 billion decrease in U.S. GDP and a $580 billion decrease in take-home pay for American workers, according to a study by NERA economic consulting.

API is a national trade association that represents all segments of America's technology-driven oil and natural gas industry. Its more than 550 members - including large integrated companies, exploration and production, refining, marketing, pipeline, and marine businesses, and service and supply firms - provide most of the nation's energy and are backed by a growing grassroots movement of over 15 million Americans. The industry also supports 9.8 million U.S. jobs and 8 percent of the U.S. economy, delivers $85 million a day in revenue to our government, and, since 2000, has invested over $2 trillion in U.S. capital projects to advance all forms of energy, including alternatives.

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