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www.fueloilnews.com | FUEL OIL NEWS | AUGUST 2016 3 DATELINE BREAKING NEWS API: TAX REFORM BLUEPRINT SHOWS PROMISING START API Director of Tax and Accounting Policy Stephen Comstock issued the fol- lowing statement on the Task Force on Tax Reform's blueprint recently released by House Speaker Paul Ryan (R-WI) and House Ways and Means Chairman Kevin Brady (R-TX): "The industry remains focused on a tax code that can support growth in the economy, and it's clear that many of the ideas discussed in the tax reform blueprint share this goal. There are a number of concepts in the proposal, such as immediate expensing and low- ering the corporate tax rate, that reflect pro-growth, non-discriminatory poli- cies that are necessary to encourage U.S. capital investment. "The blueprint offers a number of new tax approaches, such as non-deductibility of interest, that we want to study further and understand in the context of the entire package. We look forward to the oppor- tunity to engage on all of the ideas in the proposal and to pursue options that create jobs and opportunities in the U.S." API is a national trade association rep- resenting the oil and natural gas industry. RFA: 39 SENATORS URGE EPA TO FINALIZE STRONG RFS On June 24, 39 senators sent a letter to EPA Administrator Gina McCarthy, urging EPA to ensure the final 2017 Renewable Fuel Standard rule to "pro- mote growth in the U.S. biofuel sector and capture economic opportunity rather than drive investment overseas." The 2017 proposal calls on refiners to blend 14.8 billion gallons of conventional biofuels in 2017, slightly less than the 15 billion gallons envisioned by Congress when it expanded the RFS in 2007. R F A P r e s i d e n t a n d C E O B o b Dinneen released the following state- ment: "We thank the lawmakers for their leadership to ensure EPA final- izes a strong RFS that gets the program back on track. In proposing a lower con- ventional biofuel target for 2017, the EPA is catering to the oil industry by relying upon an illegal interpretation of its waiver authority and concern over a blend wall that the oil industry itself is creating. The RFA has demonstrated just how easy it would be for obligated parties to reach the 15 billion gallon statutory volume for conventional bio- fuels next year—through rising gasoline demand, increased E15 and E85 and 2 billion surplus renewable identification numbers available to refiners. "Meantime, continued uncertainty has caused investments in new technology and advanced biofuel to languish or move over- seas. It's time EPA follows the statutory requirement and increase the conventional biofuel target to 15 billion gallons." NPGA: PIPELINE BILL BECOMES LAW; PROPANE PROVISION INCLUDED President Barack Obama on June 22 signed S. 2276, the Protecting our Infrastructure of Pipelines and Enhancing Safety Act of 2016. The National Propane Gas Association said the legislation includes a provision that requires an inde- pendent study of the regulations placed on jurisdictional propane systems. This bill moved quickly through the legislative process in the last few weeks, and its enact- ment marks "a great win for the propane industry," the NPGA said. The association said it worked with its allies in Congress to include the jurisdic- tional propane system study. Reps. Bob Latta (R-OH) and Peter Welch (D-VT) crafted the bipartisan language that was ultimately included. The law requires the Department of Transportation to con- tract the study with the Transportation Research Board at the National Academy of Sciences, an independent third party. The TRB will assemble a panel of experts and stakeholders to examine the current regulatory requirements on these systems and make recommendations on how to improve them, after which the study will be subjected to peer review. The study and its recommendations are expected to be finalized in approximately 18 months, according to the association. Having an independent review of the DOT regulations is an important first step FEATURED NEWS DATELINE • API: Tax Reform Blueprint Shows Promising Start • RFA: 39 Senators Urge EPA to Finalize Strong RFS • NPGA: Pipeline Bill Becomes Law; Propane Provision Included • AEC: Vermont Gas Pipeline Costs Rise Yet Again • Crop-Based Biofuels Don't Harm Food Supplies, New Report Finds FUELS/EIA — pg 16 • Propane Exhibit Opens at National Museum of Industrial History In Bethlehem, PA. • Student Videos Focus On Energy Solutions for The Next Generation; Amerigreen Spring Essay Contest Showcases Creative Thinking • EIA Projections Show Policies Reducing Energy Use and Emissions, Boosting Renewables and Efficiency • EIA: Proposed Standards for Medium- And Heavy-Duty Vehicles Would Reduce Diesel Consumption BUSINESS OPERATIONS— pg 21 • Stone Road Energy Acquires Dorr Oil Co. • Survey Shows Small Business Owners Don't Vote Along Party Lines • Successful Strategy Implementation HVAC/HYDRONICS — pg 34 • Ralph Adams Named President of National Association of Oil & Energy Service Professionals • United Technologies Holdings Italy Acquires Majority Stake in Riello • Bryan Steam Celebrates 100th Anniversary In 2016 • CETP Propane Courses