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05-09-2012

RVP waiver will help assure fuel supplies in hurricane states

API Downstream Group Director Bob Greco said that EPA’s decision waiving summer Reid Vapor Pressure (RVP) requirements could help with fuel supplies in the South as it recovers from the effects of Hurricane Isaac:

“We welcome EPA's decision to end the summer gasoline requirement a week and a half early. It could help keep consumers well supplied with gasoline as the industry brings its facilities back on line after hurricane Isaac.

“The extensive regulations under which the U.S. oil and natural gas industry operates increase the challenges of keeping consumers adequately supplied with affordable fuels. Unfortunately, EPA has been advancing unnecessary new regulations that could further increase the costs of producing and distributing fuel both during normal periods and during and after hurricanes.”

API represents more than 500 oil and natural gas companies, leaders of a technology-driven industry that supplies most of America’s energy, supports 9.2 million U.S. jobs and 7.7 percent of the U.S. economy, delivers $86 million a day in revenue to our government, and, since 2000, has invested over $2 trillion in U.S. capital projects to advance all forms of energy, including alternatives.

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