US EPA extends fuel waiver for the second time for Midwest states
By Nicole Jao
NEW YORK, Aug 29 (Reuters) -The U.S. Environmental Protection Agency extended the emergency waiver for the second time in response to fuel shortages in four Midwest states where the gasoline supply has been impacted by the outage of Exxon Mobil's XOM.N 251,800 barrel-per-day refinery in Joliet, Illinois.
The waiver forMichigan, Wisconsin, Indiana and Illinois will continue through Sept. 15, the EPA said.
WHY IT IS IMPORTANT
Thewaiver, which suspends federal anti-smog rules that require the sale of more expensive gasoline in the summer, should help curb gasoline prices.
Midwest gasoline prices have surged in recent weeks due tothe refinery shutdown.
CONTEXT
Exxon took the Joliet refinery offline in mid-July due to a power outage after a storm. Exxon began restarting select refinery unitsthree weeks after it lost power.
On July 31, the EPA issued an emergency waiver through Aug. 20 in response to the fuel supply emergency, and extended it earlier this month through Sept. 1.
The refinery produces around 9 million gallons a day of gasoline and diesel, the company website shows.
Reporting by Nicole Jao; Editing by Richard Chang
Latest News
Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.
All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.
Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.