The oil industry continues to claim it will be forced to either export more gasoline and diesel fuel or shut down refineries as a result of the Renewable Fuel Standard, but Renewable Fuels Association President and CEO Bob Dinneen says it's a bluff. "This is about market share. This is about their profitability; it's not any more complicated than that," he said, adding that the RFS is encouraging the increased consumption of ethanol and less oil over time, as Congress envisioned.

Related Summaries