RFS,ANdeavor
Date: 2018-04-06
Following up on the widely reported US EPA's granting Renewable Fuels Standard (RFS) "extreme hardship" waivers to the recently bankrupt Philadelphia Energy Solutions (PES Solutions) refinery, it is interesting to note that of the total 141 operating gasoline refineries in the US (EIA Jan. 2017 data) 25 have received "extreme hardship" waivers, including 3 smaller unites of one of the nation's largest oil refining companies Andeavor -- fka Tesoro Corporation -- which reportedly earned net profits of about $1.5 billion in 2017, according to Reuters coverage. So where's the "extreme hardship"?

As previously noted, "hardship waivers" were intended for refineries producing less than 75,000 bpd and suffering "disproportionate economic hardship" from the costs of RFS compliance. The waiver frees the refineries from an obligation to provide the EPA with biofuels credits proving compliance. (Source: WHTC Radio, Reuters, 3 April, 2018) Contact: Andeavor, (210) 626-6000, www.andeavor.com; Philadelphia Energy Solutions, www.pes-companies.com

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