BIO Comments on Proposed Settlement Agreement Between EPA and Philadelphia Energy Solutions on RFS Obligations
BIO submitted comments to the U.S. Department of Justice on the proposed Consent Decree and Environmental Settlement Agreement with the United States Bankruptcy Court for the District of Delaware in PES HOLDINGS LLC., ET AL., Civil Action No. 18-10122 (Bankr. D. Del.), IN RE: PES Holdings, LLC., et al., D.J. Ref. No. 90-5-2-1-10993/11.
BIO is greatly concerned by DOJ and the U.S. Environmental Protection Agency’s Settlement Agreement with PES Holdings, LLC and its debtors, including Philadelphia Energy Solutions Refining and Marketing LLC, to resolve a dispute about the obligations and liabilities of PESRM and related parties under the Clean Air Act’s Renewable Fuel Standard program.
The RFS has spurred investment, research and development, and commercialization of advanced and cellulosic biofuels. The RFS has enabled the advanced biofuels industry to make significant investments to meet the requirements of the RFS.
The Settlement Agreement undermines the goals of the RFS by allowing refiners to escape their RIN obligations under the law. The record shows the debtors shirked compliance with the RFS program while paying unwarranted dividends to shareholders.
BIO requests EPA and DOJ reconsider its Settlement Agreement with the debtors and PESRM.