11/7/2011

The oil and natural gas industry dismissed the need for the Environmental Protection Agency's proposed rules to significantly decrease sulfur levels in gasoline, saying it would force refiners to carry out major plant modifications while limiting processing capacity. The American Petroleum Institute noted that the refining sector has spent $112 billion on environmental improvements from 1990 to 2008. "Regulations governing fuel composition, greenhouse gases, and environmental standards have an enormous financial impact on the refining industry, as do financial controls and taxation," said Bob Greco, downstream and industry operations group director at API.

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