Jul 24, 2024

API exec says 'cold war' between oil industry and biofuels producers is over

Posted Jul 24, 2024 5:02 PM

(Radio Iowa) - Mike Sommers -- the president and C-E-O of the American Petroleum Institute -- says the longstanding 'cold war' between the oil industry and ethanol producers is over as the two industries unite to fight for liquid fuels.

Regulations that promote the sale and use of electric vehicles are now the common foe. And the American Petroleum Institute has ended its opposition to nationwide, year round sales of gasoline with a higher blend of ethanol.

Sommers says the oil industry supports projects like the proposed carbon capture pipeline in Iowa because reducing carbon emissions is a shared goal.