API comments on Point of Obligation

WASHINGTON, Feb. 28, 2017 /PRNewswire-USNewswire/ -- As EPA reviews comments submitted for the Point of Obligation issue, API Downstream Group Director Frank Macchiarola continues to urge the agency to stand by its proposed decision to reject moving the Point of Obligation.

"We'll comment on government decisions that are announced by the government, not speculation from a portion of a divided ethanol industry. As for the broader question, moving the point of obligation is not real reform. We continue to urge the EPA administrator to uphold the agency's well-reasoned proposed decision to reject moving the point of obligation. We also continue to urge Congress to move quickly on passing legislation to fix the ethanol mandate."

API is the only national trade association representing all facets of the oil and natural gas industry, which supports 9.8 million U.S. jobs and 8 percent of the U.S. economy. API's more than 625 members include large integrated companies, as well as exploration and production, refining, marketing, pipeline, and marine businesses, and service and supply firms. They provide most of the nation's energy and are backed by a growing grassroots movement of more than 30 million Americans.

SOURCE American Petroleum Institute

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