Renewable Fuel Standard
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- Aubrey Fletcher
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2 Renewable Fuel Standard
3 Protect Availability of Splash Blending Growing number of oil companies are selling pre-blended E10, and retaining majority of profit Some oil companies have gone to mandated E10 slate, and are pushing to have terminals allow only E10
4 E10 at Unleaded Price OPIS U.S. AVERAGE RACK 6/19/08 Prices NoLead 87 Mid. (E10)89 Gasoline Ethanol Product Cost Fed Tax Gas VEETC Ethanol State Tax (avg.) $3.93/gal. TOTAL COST
5 Protect Availability of Splash Blending Growing number of oil companies are selling pre-blended E10, and retaining majority of profit Some oil companies have gone to mandated E10 slate, and are pushing to have terminals allow only E10 South Carolina Petroleum Marketers law to stop big oil takeover of ethanol Regardless of other products offered, a terminal... must offer a petroleum product that has not been blended with ethanol and is suitable for subsequent blending with ethanol. North Carolina passed similar law 18 other states considering similar legislation
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8 Mid-Range Blend Advantages Improved transportation efficiency more ethanol could be used in areas close to ethanol production, less (or none) in areas that incur higher freight costs The same would be true of gasoline being shipped to Midwestern markets. Less required here, more available there; costs should be reduced Gains in efficiency could make plants more profitable at the same time consumer prices are reduced Easier for Obligated Parties to meet RFS requirements E20 would keep $2 billion more dollars from leaving the U.S. every week $100 billion a year
9 Blender Pumps: Splash Blending for Retailers Separate hoses for flex fuel and standard fuel Contrasting labels for standard and flex fuel. Blue flex fuels Blends above E10 clearly labeled for flex fuel vehicles only Contrasting labels for standard and flex fuel. White standard fuels E10 87% Unleaded/13% E85 E30 65% unleaded/35% E85 E85 Unleaded
10 Retailer: Blender Pump Advantages More product choices for consumers on same footprint Uses existing tanks and pipes huge cost savings Avoid buying new, more expensive double wall tank No excavation, piping, pavement to replace Qualifies for partial Federal E85 infrastructure credit Working on higher percentage of entire pump, not just E85 parts Pump paid for by sale of all products, not just E85 Fewer customers can use stand-alone E85 pump, so retailer charges higher per-gallon mark-up to pay for pump. Ethanol plants sell E85 direct bypass big oil markup Flexibility for future approval of mid-range blends
11 Federal Infrastructure Tax Credit Current Proposed
12 Government: Blender Pump Advantages Better availability of environmentally-friendly fuel in a shorter time frame Ability for retailer to recoup costs through all fuel sales makes high E85 prices on tax financed pumps less likely. Financially more attractive to station owners, will install pumps with less $ from government programs Ability to provide E85 without installing tanks, piping, new islands, etc. reduces outlays from federal, state, and local E85 infrastructure programs Stations ready for future approval of mid-range blends no new infrastructure programs necessary
13 Blender Pump Challenges New UL Standard will add huge cost to all E85 pumps Super pump requirements can double or triple cost of pump Standard pumps have been used for years without failure Recommend states institute seven-year phase-in to allow pump manufactures to bring down cost of UL required parts Monthly & annual inspections for non-ul pumps to assure safety Fear mongering by mid-range blend opponents Can t currently recommend mid-range blends in standard cars Labeling and Tax challenges: not really E20 or E30, but a blend of E85 and unleaded gasoline Both have ASTM specs, state tax rates
14 RFS Working 2007 Imports down Ethanol Gasoline Volume (billion gpy)
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