AFPM Says Obama Administration Biorefinery Decision Will Cost Millions, Hamper American Energy Security

WASHINGTON, July 9, 2012 /PRNewswire-USNewswire/ -- The American Fuel & Petrochemical Manufacturers (AFPM) President Charles T. Drevna responded today to reports that the Pentagon is moving forward with a plan to spend nearly half a billion dollars to help build biorefineries. Drevna notes such policies are another example of the government picking winners and losers in the marketplace instead of taking steps to enhance America's energy security:

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"Paying $26 per gallon for fuel when the Navy could be spending around $3.50 per gallon does not enhance energy security," said Drevna. "The proposal to spend almost half a billion dollars to help build biorefineries that will produce extremely expensive fuel is just the latest example of this administration's anti-fossil fuel agenda. Such ill-crafted policies come at the expense of taxpayers and, in case in particular, our energy security."

"This initiative is another Obama administration green fuel gimmick to make headlines, but it does nothing to address national security. If the administration truly wants to enhance U.S. energy security, it would unleash more of our domestic oil resources and take steps to ensure a regulatory environment that allows American refiners to stay open and competitive in the global marketplace. Unfortunately, this latest announcement is another example of the administration's all-of-the-above-but-none-of-the-below energy policy. At a time when tensions continue to rise in the Middle East, this moves our country down a potentially dangerous and unsecure path."

AFPM, the American Fuel & Petrochemical Manufacturers (formerly known as NPRA, the National Petrochemical & Refiners Association) is a trade association representing high-tech American manufacturers of virtually the entire U.S. supply of gasoline, diesel, jet fuel, other fuels and home heating oil, as well as the petrochemicals used as building blocks for thousands of vital products in daily life. AFPM members make modern life possible and keep America moving and growing as they meet the needs of our nation and local communities, strengthen economic and national security, and support 2 million American jobs.

SOURCE American Fuel & Petrochemical Manufacturers