Waxman-Markey Climate Change Bill Will Be 'Devastating' to the U.S. Refining Industry and Could Cause 25% Drop in U.S. Refining Productivity, Creating Need for More Foreign Oil, American Petroleum Institute Reports

摘要

If the House of Representatives' climate change legislation, H.R. 2454, becomes law, the U.S. will become more dependent on gasoline imports and other imported petroleum fuels, a recent study released by the American Petroleum Institute (API) argued. The legislation would reduce U.S. refining capabilities, and lead to "significant gains" in non-U.S. refinery capacity, investment and employment, all at the expense of the U.S. refining sector, the report stated. In addition, imposing the cost of carbon dioxide emissions heavily on U.S. refiners would only move emissions from the U.S. to non-U.S. refining production regions.