America’s largest oil-industry groups are launching a new coalition to lobby in support of new global standards that tighten air pollution regulations for shipping fuel.
Why it matters: This is a classic example of business using regulation to gain a competitive edge over others. Many of America’s oil and refining companies have been anticipating these rules — set a decade ago by an arm of the United Nations that oversees maritime issues — and moving toward low-sulfur kinds of diesel fuel.
Details: The Coalition for American Energy Security officially launched Tuesday. Although the organization doesn't have a website yet, it has the following members and plans to grow further:
The big picture: The global standards are forecast to increase prices of diesel, gasoline and oil prices in the coming years, according to a report released Tuesday by the U.S. Energy Information Administration, the statistical arm of the Energy Department.
What’s next: The rules officially go into effect January 1 next year. A coalition spokesperson says they are not hearing that the administration has any plans to urge for an easing of the standards, like the October WSJ report had indicated. A White House spokesperson did not immediately respond to a request for comment.
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