Renewable Fuels Association (RFA) Chief Economist Scott Richman hits back at a new ad campaign by an oil refiners coalition that blames high gas prices on the Renewable Fuel Standard (RFS) in a blog post explaining the inconvenient truth that refiners are making record profits while consumers pay at the pump.
“Here’s what’s really going on: as the marketplace anxiously awaits the final RFS volumes for 2020-2022, oil refiners are attempting to divert attention away from their unprecedented profit margins and the impact those margins have on gas prices,” writes Richman. “Once again, at a time when ethanol is clearly saving drivers money at the pump, oil refiners and their allies are trying to mislead policymakers and the public about the real causes of higher gas prices.”