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DA T E L INE Biodiesel production is reported under the EPA's Biomass-based Diesel category in the Renewable Fuel Standard (RFS). The EPA numbers show a total of 96.5 million gallons of Biomass-based Diesel for the month of July, but that figure also includes renewable diesel production. NACS URGES EPA TO CONSIDER LONG-TERM AMENDMENTS TO RFS NACS and the Society of Independent Gasoline Marketers of America sent a let- ter in early October to the Environmental Protection Agency, urging the agency to reject waiver requests of the Renewable Fuels Standard this year, but to consider adjust- ments to the mandate in future years. The letter was sent in response to the EPA's request in August for comment on letters seeking a waiver of the RFS. In sup- port of their petition, NACS and SIGMA argue that rejection of the waiver requests would avoid "disrupting business decisions premised upon the statutory volume obliga- tions for 2013." However, both associations said the EPA should consider lowering the RFS volume obligations for future years. "The issues affecting the market this year may well be replicated in the next couple of years," explained NACS Vice President of Government Relations John Eichberger. "While we do not support a decision that would disrupt the mar- ket this year, we believe strongly that the renewable fuels requirements in future years should be evaluated and the market be given as much flexibility as possible." The decision to urge rejection of the waiver request was not an easy one for NACS and SIGMA, who "weighed a number of sometimes conflicting values," including the value of free markets (thus, the urge to oppose the RFS) as well as the assurance of market and regulatory certainty as prerequisites to long-term planning (thus, their decision to reject RFS waiver requests). In balancing those conflicts, NACS and SIGMA concluded: CALENDAR OF EVENTS NOVEMBER Dead Men's Steam Night School, Mt. Kisco, NY • • Rejecting the waiver requests fosters certainty and recognizes market realities The EPA should consider downwardly adjusting future volume obligations to avoid the problems precipitating the waiver request Such an approach serves to strike a balance between market reality and the desire to fulfill RFS objectives, NACS and SIGMA concluded. NEFI HOSTS COALITION MEETING ON COMMODITY TRADING REFORM On Oct. 12 NEFI hosted a meeting of the Commodity Markets Oversight Coalition (CMOC) in their Washington, DC office. NEFI President & CEO Michael C. Trunzo opened the meeting and welcomed repre- sentatives from a diverse list of industries and interest groups. The meeting focused on the recent court decision to vacate the new Speculative Position Limits rule and possible actions to either appeal the rule or to address the concerns of the court in an amended rule. NEFI Vice President Jim Collura and PMAA Vice President Sherri Cabrera, who serve as co-chairs of the coalition, presided over the discussion. By all accounts, the meeting was very successful. The coalition developed a framework for moving forward on position limits and a number of other priorities. Also attending the meeting either in person or via teleconference were repre- sentatives from the Airlines for America, American Public Gas Association, Industrial Energy Consumers of America, Public Citizen, Consumer Federation of America, Americans for Financial Reform, National Farmers Union, American Baker's Association, American Feed Industry Association, Institute for Agriculture and Trade Policy, and non- partisan think tank Better Markets. Financial industry expert Michael Masters, former-CFTC Commissioner Fowler West and former CFTC Director of Trading and Markets and current UMD Professor of Law Michael Greenberger joined the meeting via teleconference as well. November 7 One Holiday Inn Drive Mt. Kisco, NY www.heatinghelp.com/seminar New Hampshire Motor Transport Association's Air Brake ABS Nov. 20, 2012 Training Room Concord, NH info@nhmta.org JANUARY Dead Men's Steam Night School, Astoria/Long Island City, NY January 8, 2013 2101 24th Avenue Long Island City, NY www.heatinghelp.com/seminar ASHRAE 2013 Winter Conference and the International Air-Conditioning, Heating, Refrigerating Expo® Jan. 26-30 The Conference will be held at the Sheraton Dallas. To register and for complete Conference information, visit www.ashrae.org/dallas. The Expo, www.ahrexpo.com, will be held at the Dallas Convention Center. "Our allies voiced shared concern and strong disappointment in the court's rul- ing," said NEFI President & CEO Michael Trunzo. "We all agree that these rules were mandated by Congress and that they are vital to the collective member companies, consumers and employees... we remain committed to seeing them implemented," he said. The CFTC has not yet decided on whether or not to appeal or conduct a new rulemaking, or both. A final decision from the Commission is expected within the coming weeks. Other issues discussed by the coalition included possible action on legislation to weaken, delay or repeal Dodd-Frank Act reforms during the lame duck session of Congress, the need for additional protections for commodity hedgers following last year's MF Global crisis and European and International commodity market reform efforts. FUEL OIL NEWS (ISSN 0016-2396), Canada Publication Mail Agreement #1588621, is published monthly by Bev-Al Communications, Inc. 1030 W. Higgins Road, Suite 230, Park Ridge, Il 60068. Circulated free of charge to qualified individuals in the oil heating industry in the United States. Additional and/or personal copies are available on a paid subscription basis only. 1-year subscription rates: $28.00 USA. $40.00 Canada and Mexico via service postage. $90.00 other foreign countries via air-mail postage. Single copies: $8.00 U.S. via first-class postage. $12.00 other Canada/Mexico/Foreign via airmail postage. Payable in US currency. Periodicals postage paid at Park Ridge, IL and additional mailing offices. Copyright 2012 by Bev-Al Communications, Inc. Reproduction of any portion or portions of this publication is specifically prohibited without written consent. Postmaster: Send address changes to FUEL OIL NEWS, PO Box 4290, Port Jervis, NY 12771. 4 NOVEMBER 2012 | FUEL OIL NEWS | www.fueloilnews.com