Analyzing the Impacts of Big Oil’s RFS “Dream Scenario”
The markets were abuzz last week with a rumor about EPA’s pending 2014 RVO proposal that suggested the agency was mulling the idea of cutting the “renewable fuel” portion from 14.4 billion gallons to 13.0 billion. Here's an examination of the likely impacts of “Big Oil’s dream scenario.”
Posted in Corn prices, Ethanol, Gas Prices, Renewable Fuel Standard
Ethanol Protects Against Repeat of Devastating Effects of 1973 Oil Embargo
October 16th marks the 40th anniversary of the 1973 oil embargo. Economic times are hard enough as is today; hopefully it won’t take another energy crisis to wake Congress up to the importance of a domestically-produced, renewable fuel alternative.
Posted in Gas Prices, OPEC, Oil, Renewable Fuels, Renewable Fuel Standard
Ethanol Debate About Fairness to Consumers, Not Subsidies
Apparently, the Wall Street Journal’s zealous defense of the oil industry knows no bounds. Bob Dinneen states why the paper has bet on the wrong horse in this letter to the editor.
Posted in Ethanol, Gas Prices, Oil
The Chicago Tribune’s About-Face is Giving Bob Dinneen a Sore Neck
With the Tribune's flip flop on its position over the RFS, RFA chief Bob Dinneen has taken the initiative to point out how the policy has been good for farmers and consumers.
Posted in Corn, Gas Prices, Renewable Fuel Standard
Dinneen: RFS an Economic Boon for America
The RFS saves consumers money, decreases foreign oil dependence, and creates jobs, states Bob Dinneen in a letter to the editor of the Daytona Beach News-Journal.
Posted in Gas Prices, Jobs, Renewable Fuel Standard
The RFS Gives Consumers What They Want: Choice
In a letter to the editor, Bob Dinneen states that the RFS gives consumers choice at the pump. It’s time, he says, for people to stop attacking the most effective energy policy our nation has ever seen.
Posted in E15, Gas Prices, Jobs, Renewable Fuel Standard
What do Big Oil’s Quarterly Earnings Say About the Real Impact of RINs on U.S. Gas Prices?
It’s not surprising that many oil companies are yet again reporting huge profits for their quarterly financial results, but what is somewhat surprising is what these companies are telling investors, analysts, and the SEC about the real impacts of the RFS and RINs on their bottom line and U.S. fuel prices. Here are several revealing statements from these companies.
Posted in Gas Prices, Oil, Renewable Fuel Standard
Bob Dinneen to WSJ: Stop Spreading Big Oil’s Misinformation. RINs are Free!
RFA President and CEO Bob Dinneen submitted the following letter to the editor of the Wall Street Journal in response to a recent column that suggests RINs are behind spiking gas prices.
Posted in Ethanol, Gas Prices, Production, Renewable Fuel Standard
Letter to the Editor - Dinneen to Big Oil: Focus on the Facts
RFA’s President and CEO Bob Dinneen submitted the following letter to the Orlando Sentinel in response to their recent article featuring Charles Drevna, President of the American Fuels & Petrochemical Manufacturers.
Posted in Environment, Gas Prices, Jobs, Oil, Renewable Fuel Standard
IER’s Response to Politico Op-Ed Smells Like a Skunk
In a new post on the Institute for Energy Research blog, Robert Murphy suggests that I mislead Politico readers in a recent op-ed about the RFS, RIN credits, and gas prices. IER claiming that I misrepresented the facts on the RFS is a bit like a skunk saying a rose smells bad.
Posted in Ethanol, Environment, Gas Prices, Renewable Fuel Standard
Bob Dinneen Gives the WSJ a Failing Grade
Bob Dinneen, President and CEO of the Renewable Fuels Association, responds to a recent Wall Street Journal editorial.
Posted in Ethanol, Gas Prices, Renewable Fuel Standard
Stop the RINsanity: Fact-checking Big Oil’s claims on RIN price effects
Oil companies have suggested that increased prices for conventional ethanol RINs (Renewable Identification Numbers) are leading to higher gasoline prices at the pump. Some have even deceptively claimed RINs are adding as much as $0.10 per gallon to the retail price of gasoline. This assertion is completely absurd and is easily disproven with a series of very simple calculations. Truth be told, ethanol continues to sell at a discount to gasoline and continues to offer savings at the pump, even when the impact of higher RIN prices is considered.
Posted in E15, Ethanol, Gas Prices
As Prices at the Pump Go Up, Up, Up American Ethanol is the Motorist’s Friend
If you've been paying more at the pump for gasoline, you aren't alone. And, if it weren't for U.S. ethanol, you'd be paying even more.
Posted in Gas Prices
Second Response to EPRINC Report: “Ethanol’s Lost Promise”
An EPRINC report released on Sep. 14 entitled “Ethanol’s Lost Promise” advocates repealing the Renewable Fuel Standard (RFS). The paper suggests removing the RFS could reduce the oil refining sector’s ethanol consumption down to 6.1 billion gallons annually (compared to 12.5 billion gallons in 2011). EPRINC suggests the void left by smaller ethanol supplies could be filled with imported gasoline, increased gasoline yields at the expense of diesel/distillate production, expanding U.S. refining capacity, and other infeasible options. In response to RFA’s reaction to its study, EPRINC tried to defend it with yet more conflicting and misleading statements. Once again, RFA is stepping forward to refute fiction with fact.
Posted in Ethanol, Exports, Gas Prices, Fuel, Oil, Renewable Fuel Standard
Beyond the Biofuel-bashing Editorials: Ethanol Really Reduces Prices at the Pump
Earlier this month, the Wall Street Journal published Letter to the Editor of mine, which was in response to "Ethanol vs the World." On the same day, the Journal published yet another sarcastic screed, “How Ethanol Causes Joblessness” that ridiculed what it claims was the methodology behind a study by academic economists that showed the increased use of domestic ethanol fuel lowered gas prices by a national average of $1.09 in 2011. Responding to this attack, I submitted another editorial, which was rejected by the Editorial Features Staff. Please read said editorial in this post.
Posted in Ethanol, Gas Prices, Fuel, Oil, Renewable Fuels, Renewable Fuel Standard, Research
Big Oil’s Stolen 35 Minutes
A recent article entitled "Clean Green Scam" highlighted the case of Rodney Hailey whose company sold approximately $9 million worth of fraudulent biodiesel credits to the oil industry. They were also fined by the EPA for not conducting proper due diligence to make sure the credits were legit. This cost Big Oil another $40 million. The article went on to say, "Refiners have been ripped off to the tune of $200 million so far by crooks and government fines..." due to the Renewable Fuels Standard. Wow, that is a big number - unless of course you put it into context.
Posted in Ethanol, Gas Prices, Oil
Ethanol Keeps Gasoline Prices $1.09 Cheaper
America’s growing use of domestically-produced ethanol reduced wholesale gasoline prices by an average of $1.09 per gallon in 2011, according to updated research conducted by economics professors at the University of Wisconsin and Iowa State University.
Posted in Ethanol, Gas Prices
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