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Posts Tagged ‘gas’

The Environmental Protection Agency  announced today that it would defer deciding on a request by Growth Energy, an ethanol trade group, to increase the allowable blending percent of ethanol in gasoline from 10 to 15 percent.  Public Citizen commented in July on the petition, strongly urging that EPA deny the request for a waiver.

EPA’s decision to defer the decision until the Department of Energy’s  tests of long-term durability and reliability of vehicles running a higher ethanol percentage is completed.  The final report is expected in August 2010, and EPA states in its letter to Growth Energy that it expects to evaluate interim reports and make a determination “mid-year” to potentially allow 15 percent ethanol for vehicles built after 2001.

Public Citizen strongly opposes allowing 15 percent ethanol to enter the fuel stream for vehicles built after 2001.  This assumes vehicles with sophisticated emissions control systems, which are capable of adjusting to higher ethanol content.  But Oak Ridge National Laboratory estimates that 50 percent (more…)

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We applaud the Commodity Futures Trading Commission (CFTC) for publicly acknowledging what most educated observers have been saying for months: Wall Street speculators are reaping unconscionable profits by exploiting and manipulating the unregulated energy trading markets.

Commodity traders have pushed oil prices far higher than what can be explained by basic supply and demand. Under mounting pressure from Congress, the trading commission announced this week that it has been investigating oil trading practices for the past six months.

Forgive us, however, if we remain a bit cynical. We can’t get too excited about the trading commission doing exactly what it’s supposed to do, which is to investigate irregularities in the futures market. Its announcement is similar to the local Fire Department putting out a statement that it is now going to start responding to fires. (more…)

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