20 July 2007 18:58 [Source: ICIS news]
By Joe Kamalick
The National Petrochemical & Refiners Association said in a letter to House Speaker Nancy Pelosi (Democrat-California) that various energy-related measures now working their way through the House and Senate would inhibit domestic energy production and make the
Among other energy-related measures, Congress is considering an increase to the
In his letter to Pelosi, NPRA executive vice president Charles Drevna argued that with
“As a result of the RFS, commodity prices are higher, feeds for traditional agricultural uses are threatened, and performance and mileage questions have again been raised,” Drevna said.
He also criticized a bill that would impose an additional $16bn (€11.5bn) in taxes on US refiners; that tax revenue would be funnelled into renewable fuels research and development (R&D).
“While the tax package seeks to stimulate development of conservation and renewable energy, it does so by harming the international competitiveness of the refining sector,” Drevna said.
In addition, Drevna cautioned that a measure to increase fees and permitting requirements on oil and gas exploration and development would impede domestic energy production.
These measures, he said, will “undermine the access of refiners, chemical producers and others to vital sources of domestic oil and gas production”.
Congress is expected to vote on a new energy package within the next two weeks.
($1 = €0.72)
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