UPDATE 1-CERAWEEK-U.S. Renewable Fuel Standard is not working -Marathon CEO [Reuters]
Marathon Petroleum Corporation (MPC)
Last marathon petroleum corporation earnings: 1/29 06:30 am
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Source: Reuters
U.S. Renewable Fuel Standard is not working: Marathon CEO | Reuters 3 Min Read HOUSTON (Reuters) - The U.S. Renewable Fuel Standard (RFS) laws are not working and there is an “opportunity for a reset” of the standard in Washington, Marathon Petroleum Corp Chief Executive Gary Heminger said on Tuesday. The RFS requires refineries to blend fuels with ethanol to reduce pollution, or pay for credits to subsidize those that do that blending. Heminger, who leads the largest U.S. crude oil refiner, said that the standard has caused very volatile prices for those credits, and that it needs reform. The Trump Administration has attempted to reform the standard, but has maintained much of the existing framework of the law due to support from corn producers in Iowa and other farming states. Heminger said U.S. refiners already rely on ethanol to boost octane in gasoline. “We need the octane,” he said. “Ethanol is a great source of octane. Ethanol shouldn’t be mandated.” Speaking at the CERAWeek co
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MPC
Earnings
- 1/30/24 - Beat
MPC
Sec Filings
- 4/3/24 - Form 4
- 4/3/24 - Form 4
- 4/3/24 - Form 4
- MPC's page on the SEC website