Oil industry pays for another rigged “study”
Posted 20 March 2013 in
We released the following statement today after the American Petroleum Institute (API) released a study on the economic impacts of the blend wall:
As sure as the moon waxes and wanes, the American Petroleum Institute buys studies to support their self-interested views. Their most recent study predictably attacks their main competitor: renewable fuel.
The oil industry has been complaining about the Renewable Fuel Standard, yet they are the ones who failed to invest in the infrastructure necessary to avoid the compliance mechanism that has them up in arms. Everyone knew this investment would be necessary many years ago, and in typical form, the oil industry is threatening to pass the cost of their own inaction on to consumers.
Since oil price is set on the world market, what you pay at the pump relies on what happens to world events that we cannot control, like the Cyprus bailout that is being debated today. If we want lower and more stable prices at the pump, we have to wean our way off of oil, and replace it with inexpensive and homegrown renewable fuel.