PEI Joins Coalition for E85
Altfuel group says it is campaigning to protect small businesses, stop consumer tax hike
Published in CSP Daily News
TULSA, Okla. -- The Petroleum Equipment Institute (PEI) has joined the Coalition for E85, a group of retailers, producers, equipment manufacturers and other supporters of E85 fuel campaigning to protect the investments of 2,500 small businesses and stop a multimillion-dollar tax hike on consumers.
"Fuel marketers, equipment manufacturers and the motoring public have invested a significant amount of money in building the E85 infrastructure and flex-fueled vehicles," said Robert Renkes, executive vice president of PEI. "We must not abandon E85 this close to self-sustainability."
According to the U.S. Department of Energy's Energy Information Administration (EIA), E85 flexible-fuel vehicles (FFVs) represent approximately 98% of all the alternative fuel vehicles operating on the nation's highways. "E85 represents a form of liquid transportation fuel that is growing in use and has an infrastructure investment cost similar to unleaded gasoline," said Renkes.
"Following the lead of the Congress and several recent presidents, many of our members have committed to the production of E85 fueling equipment, and we call on the Congress and Obama Administration to maintain the small incentives provided to advance the sale of E85."
Currently, other alternative fuels, such as compressed natural gas, propane and hydrogen, receive a 50-cents-per-gallon tax credit as part of the Alternative Fuel Credit. The coalition said it believes E85 should be included in this group.
Founded in 1951, Tulsa, Okla.-based PEI comprises more than 1,600 companies engaged in manufacturing and distributing equipment used in the petroleum and energy handling industry. Members are located in 50 states and 81 countries. PEI is the leading authority and source of information for the petroleum and energy handling equipment industry, and it is committed to promoting the value of distributor services and improving the business relationships and practices of its members.