March 2011- The 2011 NPRA Annual Meeting was held on March 20-22, 2011, at Marriott Rivercenter in San Antonio, TX. CEO of ADI Analytics, Uday Turaga along with Subbaraman Viswanathan presented on 'How Expensive is the Cost to Operate? A Review of the Economics of Fuel Regulations.' The overall goal of the report was to review the cost of various fuel legislations and what the industry has done to meet competitivity costs.
First, the presentation started by reviewing the refining industry, which discussed how the global refining margins are recovering although gradually. There are also drivers impacting this recovery such as slow demand, oversupply, and regulatory challenges. Second, the report evaluated future regulatory challenges including regulations on fuel composition, emissions, operations, climate changes, and blending on renewable fuels. Third, the presentation examined economics of fuel regulations such as costs and impacts from technological innovations, inaccurate baselining, and methodological errors. Lastly, the presenters went over implications for refiners including regulations such as the renewable fuel mandates.
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