Washington, April 13, 2018 (GLOBE NEWSWIRE) -- The American Fuel & Petrochemical Manufacturers’ (AFPM) President and CEO Chet Thompson testified before the U.S. House Energy and Commerce Subcommittee on the Environment today on the challenges and opportunities of high octane fuels and high efficiency vehicles.
AFPM believes that a transition from the Renewable Fuel Standard (RFS) to a fuel-neutral, 95-RON octane performance standard could better address the needs of all stakeholders, most importantly consumers.
Thompson testified, “U.S. fuel and transportation policy is at a crossroads. The auto industry faces enormous challenges in meeting increasing fuel efficiency targets, the refining industry is dealing with an expensive, inefficient and unworkable Renewable Fuel Standard, and fuel marketers and the biofuel industry are faced with constant uncertainty and never-ending debates about the RFS, making for a very challenging business environment.
“A 95-RON octane performance standard, if done correctly—with a sunset of the RFS, a reasonable phase-in and robust market competition—has the potential to benefit consumers and all stakeholders, compared to the status quo.
“Although we believe this option has the most potential, we know that it would raise many challenges and require a significant investment for our industry, which is why it cannot be considered in addition to the RFS. We are, however, committed to better understanding and exploring all of these issues and welcome the opportunity to start the conversation with other stakeholders to move forward on this path.”
Read the full testimony.
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