AFPM '12: Tesoro CEO criticizes "challenging" regulatory environment in US
SAN DIEGO -- The refining industry faces a regulatory environment that has made supplying fuels "extremely challenging," Tesoro chief executive Gregory Goff said Tuesday.
Goff, speaking at the annual meeting of American Fuel and Petrochemical Manufacturers, formerly the National Petrochemical and Refiners Association, said refiners have "consistently met" the challenge to produce affordable gasoline, diesel and other fuels. But new rules from the Environmental Protection Agency and other parts of government have made the business more difficult.
"A gallon of fuel is still cheaper than a gallon of Gatorade, Coca-Cola and Starbucks coffee," said Goff.
Refiners and the rest of the oil groups have been in the crosshairs of many politicians and consumer groups in recent weeks as the price of gasoline in the U.S. nears $4 a gallon.
At the AFPM annual meeting here this week, executives have stressed that the oil industry needs to do a better job of communicating to the public what they do and the reasons fuel prices have increased.
"People love their iPads, but a much smaller percentage know all the things that went into it," Goff said.
He took particular aim at new fuel standards set by the EPA that Goff said won't result in "better outcomes on health and the environment."
Dow Jones Newswires
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