Archive for November, 2009
Full Report Examining the U.S. Refining Industry under Waxman-Markey Posted
The full version of EPRINC’s report examining the fate of the U.S. refining industry under the American Clean Energy and Security Act (commonly referred to as Waxman-Markey bill) has been posted on our publications page and can be downloaded directly here.
The executive summary of this report is also on our publications page and can be downloaded directly here.
The Future of the U.S. Refining Industry Under Waxman-Markey
EPRINC has released an executive summary of its forthcoming report examining the future of the U.S. refining industry under the American Clean Energy and Security Act, also known as the Waxman-Markey bill.
A PDF version of the executive summary can be downloaded here and is posted on our publication page. The full report will be posted on our website later this week.
EXECUTIVE SUMMARY
EPRINC has evaluated the economic consequences to the U.S. refining industry of the American Clean Energy and Security Act (ACES), H.R. 2454, also known as the Waxman-Markey (W-M) energy and climate bill. The legislation calls for controlling emissions of greenhouse gasses (GHGs) by placing a price on GHG emissions. The bill passed the House of Representatives on June 26, 2009 and companion legislation is under discussion in the U.S. Senate.
Under the Waxman-Markey bill, both manufacturers (refiners) and importers of transportation and other fuels derived from crude oil would be required to purchase allowances to account for the carbon dioxide (CO2)emitted into the atmosphere as a result of combustion of these fuels beginning in 2012, two years before any free allowances are distributed. Allowances could be bought and sold under the legislation’s cap and trade program. U.S. refiners are responsible for approximately 45% of all emissions covered under Read More >>>
EPRINC Hosted Workshop for Congressional Staff on September 28
EPRINC, along with The Brookings Institution and the University of Texas at Austin Center for Energy Economics, Bureau of Economic Geology, hosted a workshop for Congressional staff on September 28. The workshop reviewed policy initiatives affecting the oil and gas industry, in particular the proposed repeal of several tax preferences that promote domestic oil and natural gas development.
Presentations from the workshop can be downloaded from EPRINC’s publication section.
