Oil Corporations Attempt to Derail Legislation That Lowers Fuel Prices

The leader of the National Corn Growers Association today called out several major companies trying to derail legislation that would allow for the year-round sale of fuels with 15% ethanol blends, also referred to as E15. The proposed legislation, which enjoys the support of most of the petroleum industry, would also reform parts of the small refinery exemption program under the Renewable Fuel Standard.

"There is a tiny minority of major energy corporations - like Delek U.S. Inc., Cenovus Energy, CVR Energy, HF Sinclair, Parr Pacific Holdings and Suncor Energy Inc. - that are masquerading as small refineries to get Renewable Fuel Standard exemptions they don't need," said Ohio farmer and NCGA President Jed Bower. "Their greedy actions are holding up legislation that would help farmers who are struggling during tough economic times."

Under the Renewable Fuel Standard, smaller refineries can ask for exemptions from blending fuel with ethanol, if they can demonstrate that compliance causes economic hardship. However, many so-called smaller refineries have sought exemptions over the years while also boasting multi-million or billion-dollar profits.

This statement comes as NCGA and a broad coalition of farm, ethanol, and petroleum groups are pushing for an amendment to the Farm Bill that would remove an antiquated regulatory barrier in the Clean Air Act, allowing for the sale of E15 during the summer months.

Bower also noted that the actions of the corporations are keeping gas prices higher for America's drivers.

"E15 saves consumers money at the pump, which is particularly important during the summer months," Bower noted. "So, these billion-dollar companies are putting their interests above hard-working Americans trying to make ends-meet."

The House is set to consider the amendment next week.