EIN Presswire: Ethanol Press Releases

Welspun Energy Bags 125 MW Solar PV Project

Thu, 24 May 2012 11:12:00 +0000

Welspun Energy Bags 125 MW Solar PV Project

PR Newswire

NEW DELHI, May 24, 2012 /PRNewswire-Asia/ --

Largest Solar Power Project in Madhya Pradesh, India

Welspun Solar Madhya Pradesh Private Limited (WSMPPL), a wholly owned subsidiary of Welspun Renewable Private Limited, has won a 125 MW Solar PV project in Madhya Pradesh State of India. The bidding process was conducted by MP Power Management Company Limited, at Jabalpur city on 10th May 2012. WSMPPL won the bid by quoting a tariff of Rs. 8.05 per unit. It bears noticing that the feed-in tariff in Madhya Pradesh is Rs.15.35 per unit. However, in the recent reverse bidding process conducted by the Madhya Pradesh Power Management Company (MPPMC), the lowest tariff quoted was Rs.7.90.

(Photo: http://photos.prnewswire.com/prnh/20120524/533482 )

This is the highest capacity to be awarded to any Indian entity in the solar space to date. WSMPPL has emerged one among the four winning bidders for solar projects in Madhya Pradesh. After the formal award of the project, WSMPPL will put up one solar photo voltaic project of 100 MW and another of 25 MW capacities. Typically, a solar power project costs Rs 10 crore per MW. WSMPPL proposes to develop this Project in the Mandsaur district in the Malwa region of Madhya Pradesh in a record time of 19 months from the date of signing the PPA.

After this Welspun Energy has become one of the largest renewable players in India.Madhya Pradesh is facing an annual power deficit of 17.9%. Inception of this project will enable powering of 6, 60,000 homes, mitigating 2, 29,550 tones of carbon annually. WSMPPL will be making an investment of USD 225 M towards project's development.

"We need to ensure widespread energy access at affordable prices as dependence on fossil fuels is not a sustainable solution. Solar energy is the best option today. I believe, India can be the path breaker, by bringing electricity at affordable prices to our cities and villages. We have been continually demonstrating that solar tariff can be brought to grid parity. In close to two years tariffs have come down significantly. Innovation will be the key in bringing solar to grid parity," said Mr. Vineet Mittal, Co-founder and MD, Welspun Energy Ltd.

About Welspun Energy Ltd.: Welspun Energy Ltd. is part of the $3.5 billion Welspun Group, log on to http://www.welspunenergy.com

Ms. Soni Shrivastav, VP Corporate & Strategic Initiatives

soni_shrivastav@welspun.com

+91(0)11-66034614 / +91(0)9560999267, New Delhi India.

SOURCE　Welspun Energy Ltd

CNOOC Limited New Discovery Luda 21-2 in Bohai

Thu, 24 May 2012 09:00:00 +0000

CNOOC Limited New Discovery Luda 21-2 in Bohai

PR Newswire

HONG KONG, May 24, 2012 /PRNewswire-Asia/ -- CNOOC Limited (the "Company", NYSE: CEO, SEHK: 00883) today announced that the Company has successfully made a new discovery Luda(LD)21-2 in Bohai.

(Logo: http://www.prnasia.com/sa/200701301659.jpg )

LD 21-2 is located in the inverted structure belt of LD 22-27 in south Liaodong Bay, with its south part adjacent to LD 27-2 oilfield. The average water depth is 20 meters. The discovery well of LD 21-2-1D is drilled and completed at a depth of 2,831 meters and encountered oil pay zones with total thickness of about 170 meters, representing the thickest oil layers found in the exploration of Bohai clastic rocks in recent years. Currently, oil production of the well is tested at around 608 barrels per day.

Mr. Zhu Weilin, Executive Vice President of the Company and General Manager of Exploration Department commented, "The discovery of LD21-2 not only has fairly good economics in exploration and development, but also further confirms high quality oil and gas accumulation of the inverted structure belt of LD 22-27 as well as good prospects for future exploration."

Notes to Editors:

More information about the Company is available at http://www.cnoocltd.com.

This press release includes "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995, including statements regarding expected future events, business prospectus or financial results. The words "believe", "intend", "expect", "anticipate", "project", "estimate", "plan", "predict" and similar expressions are intended to identify such forward-looking statements. These statements are based on assumptions and analysis made by the Company in light of its experience and perception of historical trends, current conditions and expected future developments, as well as other factors that the Company believes reasonable under the circumstances. However, whether actual results and developments will meet the Company's expectations and predictions depends on a number of risks and uncertainties which could cause the actual results, performance and financial conditions to differ materially from the Company's expectations, including those associated with fluctuations in crude oil and natural gas prices, the exploration or development activities, the capital expenditure requirements, the business strategy, the highly competitive nature of the oil and natural gas industries, the foreign operations, environmental liabilities and compliance requirements, and economic and political conditions in the People's Republic of China. For a description of these and other risks and uncertainties, please see the documents the Company has filed from time to time with the United States Securities and Exchange Commission, including 2011 Annual Report on Form 20-F filed on April 20, 2012.

Consequently, all of the forward-looking statements made in this press release are qualified by these cautionary statements. The Company cannot assure that the actual results or developments anticipated will be realized or, even if substantially realized, that they will have the expected effect on the Company, its business or operations.

For further enquiries, please contact:

Ms. Ding Jianchun

Manager, Media / Public Relations

CNOOC Limited

Tel: +86-10-8452-2973

Fax: +86-10-8452-1441

E-mail: dingjch@cnooc.com.cn

Ms. Zhang Yuxiao

Senior Supervisor, Media/Public Relations

CNOOC Limited

Tel: +86-10-8452-6642

Fax: +86-10-8452-1441

E-mail: zhangyx12@cnooc.com.cn

Ms. Angela Hui

Ketchum Newscan Public Relations Ltd

Tel: +852-3141-8091

Fax: +852-2510-8199

E-mail: angela.hui@knprhk.com

SOURCE　CNOOC Limited

ONEOK Chairman Tells Shareholders Net Income Expected to Grow 18 Percent Annually Between 2012-2014; Dividend Expected to Grow 40 Percent during Same Period

Wed, 23 May 2012 20:10:00 +0000

ONEOK Chairman Tells Shareholders Net Income Expected to Grow 18 Percent Annually Between 2012-2014; Dividend Expected to Grow 40 Percent during Same Period

Growth Driven Primarily by Volume Increases

Also Highlights Commitment to Environmental, Safety and Health Performance Improvement

PR Newswire

TULSA, Okla., May 23, 2012 /PRNewswire/ -- ONEOK, Inc. (NYSE: OKE) Chairman and Chief Executive Officer John W. Gibson today told shareholders at the company's annual meeting that the company expects to increase its net income by approximately 18 percent annually between 2012 and 2014, compared with 2012 earnings guidance, driven primarily by incremental earnings to ONEOK from the growth at ONEOK Partners (NYSE: OKS).

He also told shareholders the company expects to increase its dividend by approximately 40 percent between 2012 and 2014, which includes a projected dividend increase of 5 cents per share on a pre-split basis in July 2012, subject to ONEOK board approval. Compared with its 2011 annual dividend of $2.16 per share, this increase represents a 64-percent increase.

"Most importantly, projected dividend and net income growth at ONEOK is expected to be driven primarily by natural gas and natural gas liquids volume growth at ONEOK Partners, not by higher projected commodity prices or wider price differentials," said Gibson. "And ONEOK shareholders should continue to benefit from the incremental earnings generated by ONEOK Partners' completion of its more than $5 billion internal-growth program, expected to be completed by 2015."

He also said that the company's investment in ONEOK Partners – through its 2-percent general partner interest and limited partner interests that together represent a 43.4-percent total ownership interest – continues to benefit ONEOK and fulfill the partnership's role as ONEOK's growth engine. In 2011, ONEOK received $333 million in total distributions from ONEOK Partners, compared with $145 million in 2006, the first year ONEOK was the sole general partner.

"As ONEOK Partners grows, ONEOK grows," said Gibson. "The partnership's current plans to invest an additional $4.7 billion to $5.6 billion for natural gas, natural gas liquids and crude-oil infrastructure in and around our existing operational footprint should result in increased earnings and cash distributions paid to ONEOK."

Gibson said ONEOK Partners expects earnings before interest, taxes, depreciation and amortization (EBITDA) to increase approximately 20 percent annually between 2012 and 2014, compared with 2012 earnings guidance. The partnership has estimated a 2.5-cent-per-unit-per-quarter increase in unitholder distributions in 2012 and an average annual distribution increase of 15 to 20 percent in 2013 and 2014. Actual unitholder distribution declarations are subject to ONEOK Partners board approval.

The partnership provided the following table that includes the 2012 to 2014 average unhedged price assumptions used in these growth estimates.

Price Assumptions*	2012			2013	2014
NYMEX Crude oil ($/Bbl)	$	97.75	$	103.75	$	110.00
NYMEX natural gas ($/MMBtu)	$	3.30	$	3.30	$	4.25
Natural gas liquids composite ($/gallon)	$	1.20	$	0.97	$	1.14
Conway-to-Mont Belvieu OPIS average ethane price differential ($/gallon)	$	0.32	$	0.26	$	0.15

*Amounts shown exclude the impact of hedging

Gibson said that if 2013 and 2014 commodity prices – crude oil, natural gas and natural gas liquids – remained at the levels assumed in 2012 guidance, 2012 to 2014 earnings growth projections at ONEOK and ONEOK Partners would be reduced by only one percentage point annually.

He also highlighted the company's entry into the crude-oil transportation business through the partnership's previously announced plans to build a 1,300-mile crude-oil pipeline that will transport light-sweet crude oil from the Bakken Shale in the Williston Basin in North Dakota to the Cushing, Oklahoma, crude-oil market hub.

Gibson said ONEOK had an exceptionally strong performance in 2011, led by its ONEOK Partners segment, which increased its volumes and benefited from its integrated midstream natural gas and natural gas liquids assets.

He said the company's natural gas distribution segment should continue to benefit from successful rate and risk-mitigation strategies, combined with targeted capital investments that provide value to investors and its 2 million customers. He noted that the company's energy services segment continues to operate in the most challenging natural gas marketing environment in a decade, but that the segment has become an increasingly smaller percentage of ONEOK's total operating income, approximately 2 percent in 2011.

Total shareholder return for ONEOK shareholders during the last one-, three-, five- and 10-year timeframes has significantly exceeded the S&P 500 index and the S&P 500 utilities index, according to Gibson. In 2011, ONEOK earned a total shareholder return of 61 percent compared with returns of 20 percent for the S&P 500 utilities index and 2 percent for the S&P 500 index, he said.

Gibson also praised the company's environmental, safety and health (ESH) initiatives. "We continue to make progress to strengthen and improve our environmental, safety and health performance, which is a top priority in everything that we do," he said.

He noted that the company is executing to achieve by 2013 specific environmental, safety and health performance goals that include:

Improving its safety performance metrics by 50 percent compared with 2009;
Achieving business-segment ESH performance in the top-25 percent of our peer companies;
Adding an additional environmental component to company ESH management systems companywide;
Establishing a behavior-based safety program companywide;
Reviewing company resource use, such as water, electricity and fuel;
Developing initiatives to achieve annual environmental footprint reductions on a per-unit basis;
Expanding companywide ESH policies, procedures and training programs;
Establishing formal ESH audit and risk-assessment programs; and
Establishing an interdependent ESH culture, in which employees not only do their part as individuals, but also work together with fellow employees and contractors to strengthen and sustain company ESH initiatives.

"By achieving these specific goals, we expect to build on the progress we have already made and will continue to make future ESH improvements a priority," Gibson said.

"We want to be recognized as a leader in protecting the environment, safety and health of our employees, contractors, customers and the public. To reach that goal, we've still got a ways to go; however, we are taking the steps necessary to move us to that pinnacle of achievement," he stated.

Gibson also thanked and recognized the company's 4,800 employees for the company's continued success, noting employees are the "ones whose creativity, execution and hard work get things done for you, our shareholders. The talent, commitment and dedication of our employees are what distinguish us from our competitors – and ultimately make us successful."

NON-GAAP (GENERALLY ACCEPTED ACCOUNTING PRINCIPLES)
FINANCIAL MEASURE

ONEOK has disclosed in this news release anticipated EBITDA levels that is a non-GAAP financial measure for ONEOK Partners. EBITDA is used as a measure of the partnership's financial performance. EBITDA is defined as ONEOK Partners' net income adjusted for interest expense, depreciation and amortization, income taxes and allowance for equity funds used during construction attributable to ONEOK Partners.

ONEOK believes the non-GAAP financial measure described above is useful to investors because this measurement is used by many companies in its industry as a measurement of financial performance of ONEOK Partners and is commonly employed by financial analysts and others to evaluate the financial performance of the partnership and to compare the financial performance of the partnership with the performance of other publicly traded partnerships within its industry.

ONEOK Partners' EBITDA should not be considered an alternative to net income, earnings per unit or any other measure of financial performance presented in accordance with GAAP.

This non-GAAP financial measure excludes some, but not all, items that affect net income. Additionally, these calculations may not be comparable with similarly titled measures of other companies. Furthermore, this non-GAAP measure should not be viewed as indicative of the actual amount of cash that is available for distributions or that is planned to be distributed for a given period nor does it equate to available cash as defined in the ONEOK Partners' partnership agreement.

---------------------------------------------------------------------------------------------------------------------------

ONEOK, Inc. (NYSE: OKE) is a diversified energy company. We are the general partner and own 43.4 percent of ONEOK Partners, L.P. (NYSE: OKS), one of the largest publicly traded master limited partnerships, which is a leader in the gathering, processing, storage and transportation of natural gas in the U.S. and owns one of the nation's premier natural gas liquids (NGL) systems, connecting NGL supply in the Mid-Continent and Rocky Mountain regions with key market centers. ONEOK is among the largest natural gas distributors in the United States, serving more than 2 million customers in Oklahoma, Kansas and Texas. Our energy services operation focuses primarily on marketing natural gas and related services throughout the U.S. ONEOK is a FORTUNE 500 company and is included in Standard & Poor's (S&P) 500 Stock Index.

For more information, visit the website at www.oneok.com.

For the latest news about ONEOK, follow us on Twitter @ONEOKNews.

Some of the statements contained and incorporated in this news release are forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act. The forward-looking statements relate to our anticipated financial performance, liquidity, management's plans and objectives for our future operations, our business prospects, the outcome of regulatory and legal proceedings, market conditions and other matters. We make these forward-looking statements in reliance on the safe harbor protections provided under the Private Securities Litigation Reform Act of 1995. The following discussion is intended to identify important factors that could cause future outcomes to differ materially from those set forth in the forward-looking statements.

Forward-looking statements include the items identified in the preceding paragraph, the information concerning possible or assumed future results of our operations and other statements contained or incorporated in this news release identified by words such as "anticipate," "estimate," "expect," "project," "intend," "plan," "believe," "should," "goal," "forecast," "guidance," "could," "may," "continue," "might," "potential," "scheduled," and other words and terms of similar meaning.

One should not place undue reliance on forward-looking statements, which are applicable only as of the date of this news release. Known and unknown risks, uncertainties and other factors may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by forward-looking statements. Those factors may affect our operations, markets, products, services and prices. In addition to any assumptions and other factors referred to specifically in connection with the forward-looking statements, factors that could cause our actual results to differ materially from those contemplated in any forward-looking statement include, among others, the following:

the effects of weather and other natural phenomena, including climate change, on our operations, including energy sales and demand for our services and energy prices;
competition from other United States and foreign energy suppliers and transporters, as well as alternative forms of energy, including, but not limited to, solar power, wind power, geothermal energy and biofuels such as ethanol and biodiesel;
the status of deregulation of retail natural gas distribution;
the capital intensive nature of our businesses;
the profitability of assets or businesses acquired or constructed by us;
our ability to make cost-saving changes in operations;
risks of marketing, trading and hedging activities, including the risks of changes in energy prices or the financial condition of our counterparties;
the uncertainty of estimates, including accruals and costs of environmental remediation;
the timing and extent of changes in energy commodity prices;
the effects of changes in governmental policies and regulatory actions, including changes with respect to income and other taxes, pipeline safety, environmental compliance, climate change initiatives and authorized rates of recovery of natural gas and natural gas transportation costs;
the impact on drilling and production by factors beyond our control, including the demand for natural gas and crude oil; producers' desire and ability to obtain necessary permits; reserve performance; and capacity constraints on the pipelines that transport crude oil, natural gas and NGLs from producing areas and our facilities;
changes in demand for the use of natural gas because of market conditions caused by concerns about global warming;
the impact of unforeseen changes in interest rates, equity markets, inflation rates, economic recession and other external factors over which we have no control, including the effect on pension and postretirement expense and funding resulting from changes in stock and bond market returns;
our indebtedness could make us vulnerable to general adverse economic and industry conditions, limit our ability to borrow additional funds and/or place us at competitive disadvantages compared with our competitors that have less debt, or have other adverse consequences;
actions by rating agencies concerning the credit ratings of ONEOK and ONEOK Partners;
the results of administrative proceedings and litigation, regulatory actions, rule changes and receipt of expected clearances involving the Oklahoma Corporation Commission (OCC), Kansas Corporation Commission (KCC), Texas regulatory authorities or any other local, state or federal regulatory body, including the Federal Energy Regulatory Commission (FERC), the National Transportation Safety Board (NTSB), the Pipeline and Hazardous Materials Safety Administration (PHMSA), the Environmental Protection Agency (EPA) and the Commodity Futures Trading Commission (CFTC);
our ability to access capital at competitive rates or on terms acceptable to us;
risks associated with adequate supply to our gathering, processing, fractionation and pipeline facilities, including production declines that outpace new drilling;
the risk that material weaknesses or significant deficiencies in our internal controls over financial reporting could emerge or that minor problems could become significant;
the impact and outcome of pending and future litigation;
the ability to market pipeline capacity on favorable terms, including the effects of:
- future demand for and prices of natural gas and NGLs;
- competitive conditions in the overall energy market;
- availability of supplies of Canadian and United States natural gas; and
- availability of additional storage capacity;
performance of contractual obligations by our customers, service providers, contractors and shippers;
the timely receipt of approval by applicable governmental entities for construction and operation of our pipeline and other projects and required regulatory clearances;
our ability to acquire all necessary permits, consents or other approvals in a timely manner, to promptly obtain all necessary materials and supplies required for construction, and to construct gathering, processing, storage, fractionation and transportation facilities without labor or contractor problems;
the mechanical integrity of facilities operated;
demand for our services in the proximity of our facilities;
our ability to control operating costs;
adverse labor relations;
acts of nature, sabotage, terrorism or other similar acts that cause damage to our facilities or our suppliers' or shippers' facilities;
economic climate and growth in the geographic areas in which we do business;
the risk of a prolonged slowdown in growth or decline in the United States or international economies, including liquidity risks in United States or foreign credit markets;
the impact of recently issued and future accounting updates and other changes in accounting policies;
the possibility of future terrorist attacks or the possibility or occurrence of an outbreak of, or changes in, hostilities or changes in the political conditions in the Middle East and elsewhere;
the risk of increased costs for insurance premiums, security or other items as a consequence of terrorist attacks;
risks associated with pending or possible acquisitions and dispositions, including our ability to finance or integrate any such acquisitions and any regulatory delay or conditions imposed by regulatory bodies in connection with any such acquisitions and dispositions;
the possible loss of natural gas distribution franchises or other adverse effects caused by the actions of municipalities;
the impact of uncontracted capacity in our assets being greater or less than expected;
the ability to recover operating costs and amounts equivalent to income taxes, costs of property, plant and equipment and regulatory assets in our state and FERC-regulated rates;
the composition and quality of the natural gas and NGLs we gather and process in our plants and transport on our pipelines;
the efficiency of our plants in processing natural gas and extracting and fractionating NGLs;
the impact of potential impairment charges;
the risk inherent in the use of information systems in our respective businesses, implementation of new software and hardware, and the impact on the timeliness of information for financial reporting;
our ability to control construction costs and completion schedules of our pipelines and other projects; and
the risk factors listed in the reports we have filed and may file with the Securities and Exchange Commission (SEC), which are incorporated by reference.

These factors are not necessarily all of the important factors that could cause actual results to differ materially from those expressed in any of our forward-looking statements. Other factors could also have material adverse effects on our future results. These and other risks are described in greater detail in Item 1A, Risk Factors, in the Annual Report. All forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by these factors. Other than as required under securities laws, we undertake no obligation to update publicly any forward-looking statement whether as a result of new information, subsequent events or change in circumstances, expectations or otherwise.

Analyst Contact:	Andrew Ziola
	918-588-7163
Media Contact:	Brad Borror
	918-588-7582

SOURCE ONEOK, Inc.

The Indianapolis 500 Spotlights the Potential of America's New Energy Reality

Wed, 23 May 2012 12:37:00 +0000

The Indianapolis 500 Spotlights the Potential of America's New Energy Reality

Ladies and gentleman, start your…natural gas…engines

PR Newswire

INDIANAPOLIS, May 23, 2012 /PRNewswire/ -- In a recent report on the Indianapolis 500 and the feasibility of alternative fuels, Brent Schutte, Market Strategist for Harris Private Bank, writes about the promising future of natural gas vehicles to cut costs for American families and racing teams.

"Indy car drivers have embraced versions of alternative fuels and this season will mark the first year that cars will be burning E85 (ethanol) fuel," said Schutte. "The sights and sounds of race cars burning fuel to speed across the track in America's Heartland got us thinking about another American story, namely the increased natural gas and crude oil production that is occurring in many parts of the U.S."

Here are some facts from the report about gas usage for Indy car drivers and average residents of Indianapolis:

The average Indy car gets a "whopping" 2-3 miles per gallon, which translates to approximately $600 - $900 in fuel to complete the 500 miles. The average Indianapolis resident will spend $55 on fuel driving 500 miles, up from about $20 in 1994.
While the prize money for the winner of the Indy 500 has increased roughly 60 percent since 2002, the median income of an Indianapolis household has barely budged, rising from $64,100 in 2002 to $66,000 in 2011. Clearly, the increasing cost of fuel has "dented" household budgets.
Currently, the gallon gasoline equivalent of driving 500 miles for an Indianapolis resident using natural gas would equate to roughly $15. That's $40 cheaper than driving with traditional gasoline or nearly $1,250 in annual savings for the average family.

"We believe that the recent trend toward alternative energy vehicles is more than just a passing fad and will continue until a new equilibrium exists between the price of natural gas and the price of oil," said Schutte. "Many companies already have or are in the process of converting some of their fleets to run on compressed natural gas, and the consumption of natural gas as vehicle fuel continues to rise."

For a copy of the complete report, visit www.harrisbank.com/indy500.

Harris Private Bank

Harris Private Bank is a trade name used by various financial service providers in BMO Financial Corp. Banking services offered by Harris Private Bank are provided by BMO Harris Bank N.A. and their bank affiliates. Member FDIC. Not all products and services are available in every state and/or location.

BMO and BMO Financial Group are trade names used by Bank of Montreal

The information and opinions expressed herein are obtained from sources believed to be reliable and up-to- date, however their accuracy and completeness cannot be guaranteed. Opinions expressed reflect judgment current as of this publication and are subject to change. Past performance is not indicative of future results.

SOURCE BMO Financial Group

Consumer Reports Survey: Americans Say Fuel Economy Most Important Car Buying Factor

Tue, 22 May 2012 10:00:00 +0000

Consumer Reports Survey: Americans Say Fuel Economy Most Important Car Buying Factor

PR Newswire

Nearly three-quarters of drivers would consider an alternative fuel vehicle for their next car

YONKERS, N.Y., May 22, 2012 /PRNewswire-USNewswire/ -- With fuel prices at near record levels, consumers are driving less and contemplating a move to smaller, more fuel-efficient vehicles, according to recent survey by Consumer Reports.

The survey found that 37 percent said their leading consideration when shopping for their next car will be fuel economy. A distant second was quality (17 percent) followed by safety (16 percent), value (14 percent) and performance (6 percent).

"These results make it clear that high fuel prices are continuing to impact driver behavior and influencing future purchase considerations," said Jeff Bartlett, Consumer Reports deputy auto editor. "While quality, safety and value are still important, this may be foreshadowing a market shift by folks seeking relief at the pump."

Some two-thirds of owners surveyed said they expected their next vehicle to get better fuel mileage than the one they're driving now. While gasoline costs (90 percent) were the number one reason cited for wanting a more fuel-efficient vehicle, more than half of respondents also had other reasons, including a desire to be more environmentally friendly (62 percent) and concern about dependence on foreign oil (56 percent).

Women disproportionately said they were motivated by the environmental benefit of better fuel economy (65 percent vs. 58 percent of men), more concerned about dependence on foreign oil (63 percent vs. 49 percent of men), and impacted by changes on the home front (38 percent vs. 31 percent).

For more information regarding Consumer Reports' fuel economy survey, helpful fuel economy tips and advice on selecting the most fuel-efficient car for your needs visit www.ConsumerReports.org/fuel.

The survey, conducted by the Consumer Reports National Research Center, found that car owners were open to different ways of saving at the pump, from downsizing to looking at hybrids, electric cars, or models with diesel engines. In all, nearly three quarters (73 percent) of participants said they would consider some type of alternatively fueled vehicle, with flex-fuel (which can run on E85 ethanol) and hybrid models leading the way. Younger buyers were more likely to consider an alternatively-fuel or purely electric vehicle than drivers over the age of 55.

Of those who said they plan to move to a different type, owners of large SUVs were the most open to downsizing, frequently planning to move to a smaller SUV. Small cars were the leading category targeted by survey respondents for their next vehicle, followed by larger sedans and midsized SUVs. Further illuminating a future market shift, larger sedans (18 percent) and minivans (7 percent) are on fewer participants' radar relative to their current model.

With the federal government expected to finalize new fuel efficiency standards later this year that would require manufacturer's average fuel economy to reach 54.5 miles-per-gallon by 2025, some 90 percent of respondents agreed or strongly agreed with the statements "Auto manufacturers should offer a greater variety of cleaner, more fuel-efficient vehicles in the near future." Almost 80 percent felt the same about the statements "Fuel economy standards should require auto manufacturers to increase the overall fleet average to at least 55 miles per gallon," (79%) and "I am willing to pay extra for a more fuel efficient vehicle if I can recover the additional cost through lower fuel costs" (81%).

"When gas prices are high, it's always tempting to rush to trade-in for a more fuel-efficient car to save at the pump. But our research has shown that you're often better off financially to stick it out with the vehicle you have if it's less than three years old, because a new vehicle will cost you more in depreciation than you would save on gas," said Bartlett.

The Consumer Reports National Research Center conducted the random, nationwide telephone survey in two waves, April 5-7 and April 12-15, 2012, contacting 2,009 adults. The Center interviewed 1,702 adults in households that had at least one car.

For more information regarding Consumer Reports' survey on fuel economy, visit www.ConsumerReports.org.

Consumer Reports is the world's largest independent product-testing organization. Using its more than 50 labs, auto test center, and survey research center, the nonprofit rates thousands of products and services annually. Founded in 1936, Consumer Reports has over 8 million subscribers to its magazine, website and other publications. Its advocacy division, Consumers Union, works for health reform, food and product safety, financial reform, and other consumer issues in Washington, D.C., the states, and in the marketplace.

MAY 2012

The material above is intended for legitimate news entities only; it may not be used for advertising or promotional purposes. Consumer Reports® is an expert, independent nonprofit organization whose mission is to work for a fair, just, and safe marketplace for all consumers and to empower consumers to protect themselves. We accept no advertising and pay for all the products we test. We are not beholden to any commercial interest. Our income is derived from the sale of Consumer Reports®, ConsumerReports.org®and our other publications and information products, services, fees, and noncommercial contributions and grants. Our Ratings and reports are intended solely for the use of our readers. Neither the Ratings nor the reports may be used in advertising or for any other commercial purpose without our permission. Consumer Reports will take all steps open to it to prevent commercial use of its materials, its name, or the name of Consumer Reports®.

SOURCE Consumer Reports

Refining Industry Outlook in the US, 2012 - Capacity Analysis, Forecasts and Details of All Operating and Planned Refineries to 2016

Mon, 21 May 2012 17:12:52 +0000

Refining Industry Outlook in the US, 2012 - Capacity Analysis, Forecasts and Details of All Operating and Planned Refineries to 2016

PR Newswire

NEW YORK, May 21, 2012 /PRNewswire/ -- Reportlinker.com announces that a new market research report is available in its catalogue:

Refining Industry Outlook in the US, 2012 - Capacity Analysis, Forecasts and Details of All Operating and Planned Refineries to 2016

http://www.reportlinker.com/p0382665/Refining-Industry-Outlook-in-the-US-2012---Capacity-Analysis-Forecasts-and-Details-of-All-Operating-and-Planned-Refineries-to-2016.html#utm_source=prnewswire&utm_medium=pr&utm_campaign=Oil_and_G

Refining Industry Outlook in the US, 2012 - Capacity Analysis, Forecasts and Details of All Operating and Planned Refineries to 2016

Summary

GlobalData's energy offering, "Refining Industry Outlook in the US, 2012 - Capacity Analysis, Forecasts and Details of All Operating and Planned Refineries to 2016" is the essential source for industry data and information relating to the refining industry in US. It provides asset level information relating to active and planned refineries in US. The details of major companies operating in the refining industry in US are included in the report. The latest news and deals relating to the sector are also provided and analyzed.

This report is built using data and information sourced from proprietary databases, primary and secondary research and in-house analysis by GlobalData's team of industry experts.

Scope

- Updated information relating to all active and planned refineries

- Provides historical data from 2005 to 2011, forecast to 2016

- Information on refining, FCC, hydrocracking and coking capacities by refinery and country

- Provides operator information for all active and planned refineries

- Identifies key trends and issues in the refining industry

- Information on the top companies in the sector including business description and strategic analysis. Key companies covered are Valero Energy Corporation, ConocoPhillips and ExxonMobil Corporation

- Product and brand updates, strategy changes, R&D projects, corporate expansions and contractions and regulatory changes.

- Key mergers and acquisitions, partnerships, private equity investments and IPOs.

Reasons to buy

- Obtain the most up to date information available on all active and planned refineries in the US

- Identify growth segments and opportunities in the industry.

- Facilitate market analysis and forecasting of future industry trends

- Facilitate decision making on the basis of strong historic and forecast refinery and unit capacity data

- Assess your competitor's refining portfolio and its evolution

- Understand and respond to your competitors business structure, strategy and prospects.

- Develop strategies based on the latest operational, financial and regulatory events.

- Do deals with an understanding of how competitors are financed, and the mergers and partnerships that have shaped the market.

- Identify and analyze the strengths and weaknesses of the leading companies in the US.

1 Table of Contents

1 Table of Contents 2

1.1 List of Tables 6

1.2 List of Figures 7

2 Introduction 8

2.1 What is This Report About? 8

2.2 How to Use This Report? 8

2.3 Market Definition 8

3 The US Refining Industry 9

3.1 The US Refining Industry, Overview 9

3.1.1 The US Refining Industry, Key Data 9

3.1.2 The US Refining Industry, Total Refining Capacity 9

3.2 The US Refining Industry: Trends and Issues 12

3.2.1 The US Refining Industry: Major Trends and Drivers 12

3.2.2 The US Refining Industry: Key Issues 13

3.3 Refining Industry in The United States, Gulf Coast 14

3.3.1 Refining Industry in The United States Gulf Coast, Crude Distillation Unit Capacity, 2005-2016 14

3.3.2 Refining Industry in The United States Gulf Coast, Coking Capacity, 2005-2016 18

3.3.3 Refining Industry in The United States Gulf Coast, Fluid Catalytic Cracking Capacity, 2005-2016 19

3.3.4 Refining Industry in The United States Gulf Coast, Hydrocracking Capacity, 2005-2016 21

3.4 Refining Industry in The United States, Midwest 22

3.4.1 Refining Industry in The United States Midwest, Crude Distillation Unit Capacity, 2005-2016 22

3.4.2 Refining Industry in The United States Midwest, Coking Capacity, 2005-2016 25

3.4.3 Refining Industry in The United States Midwest, Fluid Catalytic Cracking Capacity, 2005-2016 26

3.4.4 Refining Industry in The United States Midwest, Hydrocracking Capacity, 2005-2016 27

3.5 Refining Industry in The United States, West Coast 28

3.5.1 Refining Industry in The United States West Coast, Crude Distillation Unit Capacity, 2005-2016 28

3.5.2 Refining Industry in The United States West Coast, Coking Capacity, 2005-2016 31

3.5.3 Refining Industry in The United States West Coast, Fluid Catalytic Cracking Capacity, 2005-2016 32

3.5.4 Refining Industry in The United States West Coast, Hydrocracking Capacity, 2005-2016 33

3.6 Refining Industry in The United States, East Coast 33

3.6.1 Refining Industry in The United States East Coast, Crude Distillation Unit Capacity, 2005-2016 34

3.6.2 Refining Industry in The United States East Coast, Coking Capacity, 2005-2016 35

3.6.3 Refining Industry in The United States East Coast, Fluid Catalytic Cracking Capacity, 2005-2016 35

3.6.4 Refining Industry in The United States East Coast, Hydrocracking Capacity, 2005-2016 36

3.7 Refining Industry in The United States, Rocky Mountain 36

3.7.1 Refining Industry in The United States Rocky Mountain, Crude Distillation Unit Capacity, 2005-2016 37

3.7.2 Refining Industry in The United States Rocky Mountain, Coking Capacity, 2005-2016 38

3.7.3 Refining Industry in The United States Rocky Mountain, Fluid Catalytic Cracking Capacity, 2005-2016 39

3.7.4 Refining Industry in The United States Rocky Mountain, Hydrocracking Capacity, 2005-2016 40

4 Profile of Valero Energy Corporation 41

4.1 Valero Energy Corporation, Key Information 41

4.2 Valero Energy Corporation, Company Overview 41

4.3 Valero Energy Corporation, Business Description 41

4.3.1 Business Overview 41

4.3.2 Ethanol 42

4.3.3 Refining 42

4.3.4 Retail 43

4.4 Valero Energy Corporation, SWOT Analysis 44

4.4.1 Overview 44

4.4.2 Valero Energy Corporation Strengths 45

4.4.3 Valero Energy Corporation Weaknesses 45

4.4.4 Valero Energy Corporation Opportunities 46

4.4.5 Valero Energy Corporation Threats 47

5 Profile of ConocoPhillips 49

5.1 ConocoPhillips, Key Information 49

5.2 ConocoPhillips, Company Overview 49

5.3 ConocoPhillips, Business Description 49

5.3.1 Business Overview 49

5.3.2 Chemicals 50

5.3.3 Emerging Businesses 50

5.3.4 Exploration and Production 51

5.3.5 LUKOIL Investment 52

5.3.6 Midstream 53

5.3.7 Refining and Marketing 54

5.4 ConocoPhillips, SWOT Analysis 55

5.4.1 Overview 55

5.4.2 ConocoPhillips Strengths 55

5.4.3 ConocoPhillips Weaknesses 56

5.4.4 ConocoPhillips Opportunities 57

5.4.5 ConocoPhillips Threats 58

6 Profile of Exxon Mobil Corporation 60

6.1 Exxon Mobil Corporation, Key Information 60

6.2 Exxon Mobil Corporation, Company Overview 60

6.3 Exxon Mobil Corporation, Business Description 60

6.3.1 Business Overview 60

6.3.2 Chemical 61

6.3.3 Downstream 62

6.3.4 Upstream 63

6.4 Exxon Mobil Corporation, SWOT Analysis 64

6.4.1 Overview 64

6.4.2 Exxon Mobil Corporation Strengths 64

6.4.3 Exxon Mobil Corporation Weaknesses 66

6.4.4 Exxon Mobil Corporation Opportunities 66

6.4.5 Exxon Mobil Corporation Threats 68

7 Financial Deals Landscape 70

7.1 Detailed Deal Summary 70

7.1.1 Acquisition 70

7.1.2 Private Equity 73

7.1.3 Venture Financing 73

7.1.4 Equity Offerings 74

7.1.5 Debt Offerings 81

7.1.6 Asset Transactions 84

8 Recent Developments 90

8.1 Strategy and Business Expansion 90

8.1.1 Jan 04, 2012: HollyFrontier Announces Salt Lake City Refinery Expansion 90

8.1.2 Dec 21, 2011: PBF Announces Major Project At Delaware City Refinery 90

8.1.3 Dec 05, 2011: Tesoro Corporation Announces Salt Lake City Expansion And Feedstock Advantage Project 91

8.1.4 Dec 02, 2011: ConocoPhillips Reports On Strategic Progress 91

8.1.5 Nov 10, 2011: ConocoPhillips Announces Name And Headquarters Of Downstream Company 93

8.2 Other Significant Developments 94

8.2.1 Feb 02, 2012: Sunoco Logistics Announces Management Changes 94

8.2.2 Jan 19, 2012: Marathon Petroleum Pays $700,000 Fine To MPCA 95

8.2.3 Jan 12, 2012: Hess Announces $6.8 Billion For 2012 Capital And Exploratory Budget 96

8.2.4 Jan 11, 2012: ConocoPhillips Announces Executive Appointments 97

8.2.5 Jan 05, 2012: Blue Dolphin Energy Provides Update On Nixon Refinery 97

8.2.6 Jan 04, 2012: Western Refining Appoints Sigmund Cornelius To Its Board 98

8.2.7 Jan 04, 2012: Marathon Petroleum To Shut Units At Texas City Refinery For Maintenance 98

8.2.8 Dec 21, 2011: ConocoPhillips Announces Management Changes 98

8.2.9 Dec 21, 2011: Tesoro Appoints David Lilley To Its Board 99

8.2.10 Dec 21, 2011: Exxon Mobil Announces Anticipate Consolidation Of ExxonMobil Fuels, Lubricants & Specialties Marketing Company 99

8.2.11 Dec 15, 2011: Pelican Refining To Pay $12m For Clean Air Act And Obstruction Crimes In Louisiana 99

8.2.12 Dec 07, 2011: CVR Energy Appoints Frank Pici As CFO 101

8.2.13 Dec 07, 2011: Chevron Announces $32.7 Billion Capital And Exploratory Budget For 2012 101

8.3 New Contracts Announcements 103

8.3.1 Jan 04, 2012: PMFG Secures Three New Project Awards Totaling $11m 103

8.3.2 Jan 04, 2012: Newfield Exploration And HollyFrontier Sign Crude Oil Supply Agreement 104

9 Appendix 105

9.1 Abbreviations 105

9.2 Methodology 105

9.2.1 Coverage 105

9.2.2 Secondary Research 106

9.2.3 Primary Research 106

9.3 Contact Us 107

9.4 Disclaimer 107

List of Tables

Table 1: United States, Refinery Key Statistics, 2011 9

Table 2: United States, Refining Capacity by PADD Regions (MMTPA), 2005-2016 9

Table 3: United States, Refining Capacity by Company (MMTPA), 2005-2016 10

Table 4: United States, Crude Distillation Unit Capacity in Gulf Coast (MMTPA), 2005-2016 14

Table 5: United States, Crude Distillation Unit Capacity in Gulf Coast (MMTPA), 2005-2016 (Contd.1) 15

Table 6: United States, Crude Distillation Unit Capacity in Gulf Coast (MMTPA), 2005-2016 (Contd.2) 16

Table 7: United States, Crude Distillation Unit Capacity in Gulf Coast (MMTPA), 2005-2016 (Contd.3) 17

Table 8: United States, Coking Unit Capacity in Gulf Coast (MMTPA), 2005-2016 18

Table 9: United States, Fluid Catalytic Cracking Unit Capacity in Gulf Coast (MMTPA), 2005-2016 19

Table 10: United States, Fluid Catalytic Cracking Unit Capacity in Gulf Coast (MMTPA), 2005-2016 (Contd.1) 20

Table 11: United States, Hydrocracking Unit Capacity in Gulf Coast (MMTPA), 2005-2016 21

Table 12: United States, Crude Distillation Unit Capacity in Midwest (MMTPA), 2005-2016 22

Table 13: United States, Crude Distillation Unit Capacity in Midwest (MMTPA), 2005-2016 (Contd.1) 23

Table 14: United States, Crude Distillation Unit Capacity in Midwest (MMTPA), 2005-2016 (Contd.2) 24

Table 15: United States, Coking Unit Capacity in Midwest (MMTPA), 2005-2016 25

Table 16: United States, Fluid Catalytic Cracking Unit Capacity in Midwest (MMTPA), 2005-2016 26

Table 17: United States, Fluid Catalytic Cracking Unit Capacity in Midwest (MMTPA), 2005-2016 (Contd.1) 27

Table 18: United States, Hydrocracking Unit Capacity in Midwest (MMTPA), 2005-2016 27

Table 19: United States, Crude Distillation Unit Capacity in West Coast (MMTPA), 2005-2016 28

Table 20: United States, Crude Distillation Unit Capacity in West Coast (MMTPA), 2005-2016 (Contd.1) 29

Table 21: United States, Crude Distillation Unit Capacity in West Coast (MMTPA), 2005-2016 (Contd.2) 30

Table 22: United States, Coking Unit Capacity in West Coast (MMTPA), 2005-2016 31

Table 23: United States, Fluid Catalytic Cracking Unit Capacity in West Coast (MMTPA), 2005-2016 32

Table 24: United States, Hydrocracking Unit Capacity in West Coast (MMTPA), 2005-2016 33

Table 25: United States, Crude Distillation Unit Capacity in East Coast (MMTPA), 2005-2016 34

Table 26: United States, Coking Unit Capacity in East Coast (MMTPA), 2005-2016 35

Table 27: United States, Fluid Catalytic Cracking Unit Capacity in East Coast (MMTPA), 2005-2016 35

Table 28: United States, Hydrocracking Unit Capacity in East Coast (MMTPA), 2005-2016 36

Table 29: United States, Crude Distillation Unit Capacity in Rocky Mountain (MMTPA), 2005-2016 37

Table 30: United States, Coking Unit Capacity in Rocky Mountain (MMTPA), 2005-2016 38

Table 31: United States, Fluid Catalytic Cracking Unit Capacity in Rocky Mountain (MMTPA), 2005-2016 39

Table 32: United States, Hydrocracking Unit Capacity in Rocky Mountain (MMTPA), 2005-2016 40

Table 33: Valero Energy Corporation, Key Facts 41

Table 34: Valero Energy Corporation, SWOT Analysis 44

Table 35: ConocoPhillips, Key Facts 49

Table 36: ConocoPhillips, SWOT Analysis 55

Table 37: Exxon Mobil Corporation, Key Facts 60

Table 38: Exxon Mobil Corporation, SWOT Analysis 64

Table 39: Icahn Associates And Icahn Capital Acquire 14.5% Stake In CVR Energy For $145 Million 70

Table 40: Tesoro Plans To Sell Tesoro Hawaii 70

Table 41: CVR Energy Completes Acquisition Of Gary-Williams Energy For $625 Million 71

Table 42: AGS Capital Group To Invest $100 Million In PGI Energy 73

Table 43: Resource Petroleum & Petrochemicals International Secures $50.8 Million In Venture Financing 73

Table 44: Marathon Petroleum Completes Private Placement Of Common Shares For $636 Million 74

Table 45: Northern Tier Energy Files Registration Statement For IPO Of Shares For Up To $200 Million 75

Table 46: NuStar Energy Completes Public Offering Of Common Units For $322.7 Million 75

Table 47: Holly Energy Partners Completes Public Offering Of Common Units For $78.9 Million 77

Table 48: PBF Energy Files Registration Statement For IPO Of Shares For Up To $100 Million 78

Table 49: Calumet Specialty Products Partners Prices Public Offering Of Common Units For $198 Million 79

Table 50: Genesis Energy Announces And Prices Private Placement Of 7.875% Notes Due 2018 For $100 Million 81

Table 51: CVR Energy Completes Private Placement Of 9% First Lien Senior Secured Notes For $200 Million 82

Table 52: Calumet Specialty Products Partners Completes Private Placement Of 9.375% Senior Unsecured Notes Due 2019 For $200 Million 83

Table 53: Continental Refining Acquires Somerset Oil Refinery In Kentucky 84

Table 54: ConocoPhillips To Sell Alliance Refinery In Louisiana 84

Table 55: Plains All American Pipeline Completes Acquistion Of Refining And Pipeline Assets In Southeast Mexico & Virginia 85

Table 56: CHS To Acquire Remaining 25.6% Stake In NCRA's Refinery In McPherson, Kansas From Growmark And MFA Oil For $350 Million 86

Table 57: Holly Energy Partners Acquires Certain Pipeline And Tankage Assets From HollyFrontier For $340 Million 88

Table 58: ConocoPhillips Plans To Sell Trainer Refinery In Pennsylvania 89

List of Figures

Figure 1: United States, Refining Capacity Share Vis-à-vis Growth by the US PADD Regions (%), 2006- 2011 10

Figure 2: United States, Company-Wise Share Vis-à-vis Growth in Refining Capacity(%), 2006-2011 11

Companies mentioned

Valero Energy Corporation

ConocoPhillips

Exxon Mobil Corporation

To order this report:

Oil and Gas energy Industry: Refining Industry Outlook in the US, 2012 - Capacity Analysis, Forecasts and Details of All Operating and Planned Refineries to 2016

More Market Research Report

Check our Industry Analysis and Insights

__________________________

Contact Nicolas: nbo@reportlinker.com
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SOURCE Reportlinker

Shanghai-Listed Sunrain Leads the New Development of the Solar Thermal Industry

Mon, 21 May 2012 07:54:00 +0000

Shanghai-Listed Sunrain Leads the New Development of the Solar Thermal Industry

PR Newswire

SHANGHAI, May 21, 2012 /PRNewswire-Asia/ -- Sunrain Solar Energy Co., Ltd (stock code: 603366SH) issues A-share official listing shares on the Shanghai Stock Exchange main board May 21, 2012. As the worldwide leader in the solar thermal industry, Sunrain aims to build a world famous brand.

(Photo: http://www.prnasia.com/sa/2012/05/21/20120521145200446154.html )

Being the first company to be listed in China in the solar thermal industry, Sunrain will gain attention when it comes to energy conservation and the capital market. Through this, Sunrain will lead the revolution and push forward the development of China's solar thermal industry.

Specializing in technical research manufacturing and market promotion of solar thermal energy, and application products of other new energies, Sunrain Solar Energy has provided solar hot water system solutions for thousands of families worldwide.

Talents advantage: Setting up products, talent and value systems, and establishment of a solar technique research center that benefits top universities and colleges. Sunrain focuses on employee improvement which contributes to Sunrain and eventually the whole industry.

Scale advantage: With the growth of the economy and the development of the solar thermal industry, Sunrain has achieved fast avenue growth and increased market share. From 2008 to 2011, Sunrain's market share was 3.6%, 5.7%, 7.3%, and 8.2% respectively, ranking first in the industry. In 2011, Sunrain's turnover exceeded 3 billion.

Industry integration witnessed a remarkable leap. During this process, the Lianyungang, Yanzhou and Luoyang bases were built successively. Sunrain is the first company in the industry to manufacture rough tubes, vacuum tubes, and solar water heater systems in one factory. Sunrain has the advantages of high quality, low cost, and great efficiency and is the only enterprise that can develop and manufacture all-glass vacuum tubes, all-glass heat pipes, glass-metal sealing heat pipes, and flat plate solar collectors at the same time.

Sunrain has intensified productivity, marketing, research and other working capital programs. When put into motion, sales are estimated to have increased to 3.36 billion Yuan with a net profit of 0.355 billion Yuan.

Upholding the Management Philosophy "Creating a world famous brand, building a century-long enterprise"," and Development Idea "Forging value and interest in the community and between the company and dealers"," Sunrain builds products, talents, and values which in turn form competitive advantages in technology and high-efficient management for sustainable development.

http://www.sunrain.com/Global/Global.html

SOURCE　Sunrain Solar Energy Co., Ltd

Shanghai-Listed Sunrain Leads the New Development of the Solar Thermal Industry

Mon, 21 May 2012 07:40:00 +0000

Shanghai-Listed Sunrain Leads the New Development of the Solar Thermal Industry

PR Newswire

(Photo: http://www.prnasia.com/sa/2012/05/21/20120521145200446154.html )

Being the first listed company in China's solar thermal industry, Sunrain will gain attention when it comes to energy conservation and the capital market. Through this, Sunrain will lead the revolution and push forward the development of China's solar thermal industry.

http://www.sunrain.com/Global/Global.html

SOURCE　Sunrain Solar Energy Co., Ltd

ICE Announces June 18 Launch of New Energy Contracts

Fri, 18 May 2012 16:31:30 +0000

ICE Announces June 18 Launch of New Energy Contracts

PR Newswire

ATLANTA, May 18, 2012 /PRNewswire/ -- IntercontinentalExchange (NYSE: ICE), a leading operator of global regulated futures exchanges, clearing houses and over-the-counter (OTC) markets, today announced the launch of 33 new cleared OTC contracts for natural gas liquids (NGLs), North American power and oil and refined petroleum products. All of the new contracts will be available for the trade date of Monday, June 18, 2012, subject to regulatory non-objection.

(Logo: http://photos.prnewswire.com/prnh/20090727/CL51999LOGO )

The new contracts are:

Natural Gas Liquids¹

Isobutane, Conway, FP for OPIS Swap (ISC)
N-BUTISO, Mt Belvieu - ENT FP for OPIS Average Price Option (NBI)
Natgaso, Mt Belvieu - ENT FP for OPIS Average Price Option (NGE)
Propane, Conway - FP for OPIS Average Price Option (PRC)
Natural Gasoline, Conway, FP for OPIS Balmo Swap (LJF-LKJ)
N-BUT-D Conway, FP for OPIS Balmo Swap (LKK-LLO)
N-BUTREF, Mt Belvieu - LST FP for OPIS Balmo Swap (LRN-LSR)
MT.B-ENT Natgaso (OPIS) vs. Crude - WTI 1st line Swap (NGW)
Isobutane, MT.B-LST, FP for OPIS Swap (ISL)
Natgaso, Mt Belvieu - LST FP for OPIS (NGL)

North American Power

NI Hub RT Peak Daily Swap (NOO)
NI Hub RT Peak Daily Options (Lookback) (NOO)
Nepool MH DA Peak Monthly Option (NEP)
Nepool MH DA Off-Peak Monthly Option (NOP)
Nepool MH DA Off-Peak Cal 1 x Fixed Price Swap (NOC)
Nepool MH DA Off-Peak Cal 1 x Option (NOC)
NEPool Cal 1x Fixed Price Swap (NEX)
NEPool Cal 1x Option (NEX)

Global Oil and Refined Petroleum Products

Singapore Gasoil 0.05% Swap (SWS)²
Singapore Gasoil 0.05% Balmo Swap (VXC-VYG)²
Singapore Gasoil 0.05% vs Gasoil 1st Line Swap (Bbls) (SWV)²
Singapore Gasoil 0.05% vs Low Sulphur Gasoil 1st Line Swap (Bbls) (SWW)²
Singapore 10ppm Gasoil vs Singapore Gasoil 0.05% Swap (GSW)²
Singapore Jet Kero vs Singapore Gasoil 0.05% Swap (SVW)²
Singapore 0.5% Gasoil vs Low Sulphur Gasoil 1st Line Balmo Swap (in Bbls) (VUS-VVW)²
Dated Brent vs Dubai 1st Line Swap (PDD)³
Premium Unleaded Gasoline 10ppm FOB MED Cargoes Balmo Swap (VVX-VXB)⁴
Fuel Oil 3.5% CIF MED Cargoes Swap (CIM)⁴
Fuel Oil 3.5% CIF MED Cargoes Balmo Swap (BHA-BIE)⁴
USGC ULSD vs Brent 1st Line Swap (GUV)⁵
USGC ULSD vs WTI 1st Line Swap (GUW)⁵
USGC ULSD vs Low Sulphur Gasoil 1st Line Swap (GUX)⁵
USGC ULSD vs Gasoil 1st Line Swap (GUY)⁵

All NGLs in this release reference OPIS North America LPG Report.
These contracts reference Platts Asia-Pacific/Arab Gulf Marketscan.
This contract references Platts Crude Oil Marketwire.
These contracts reference Platts European Marketscan.
These contracts reference Platts U.S. Marketscan.

With the products announced today, ICE will offer over 730 cleared OTC energy contracts, including more than 640 new cleared OTC contracts since the launch of ICE Clear Europe in November 2008.

ICE Clear Europe enables the efficient development of new products to support the risk management needs of member firms and customers in ICE's global energy futures and OTC markets. In 2002, ICE pioneered the concept of cleared OTC energy contracts, which provide participants with access to centralized clearing and settlement arrangements while reducing bilateral credit risk and capital required for each OTC trade.

Editor's Notes

About Oil Price Information Service

Oil Price Information Service (OPIS) is one of the most widely accepted price benchmarks for supply contracts and competitive positioning. It's used as a benchmark price by the world to buy and sell NGLs, LP-Gas, U.S. gasoline, diesel, ethanol, biodiesel, jet fuel, refinery feedstocks, resid, and kerosene. OPIS produces several publications for the NGL and LPG marketplace including the OPIS North America LPG Report, the OPIS NGL Forwards Report, and the OPIS Asia Naphtha and LPG Report, in addition to publications that focus on refined products, news, and biofuels.

About Platts

Platts, a division of The McGraw-Hill Companies, is a leading global energy, petrochemicals and metals information provider. "Platts", "Platts Inside FERC's Gas Market Report", "Platts Crude Oil Market Wire", "Platts U.S. Marketscan" and "Platts European Marketscan" are trademarks of The McGraw-Hill Companies. Platts' data and trademarks are proprietary and are used under license. Platts does not sponsor, endorse, sell or promote exchange contracts and Platts accepts no liability for the use of Platts data in connection therewith.

About IntercontinentalExchange

IntercontinentalExchange (NYSE: ICE) is a leading operator of regulated futures exchanges and over-the-counter markets for agricultural, credit, currency, emissions, energy and equity index contracts. ICE Futures Europe hosts trade in half of the world's crude and refined oil futures. ICE Futures U.S. and ICE Futures Canada list agricultural, currencies and Russell Index markets. ICE is also a leading operator of central clearing services for the futures and over-the-counter markets, with five regulated clearing houses across North America and Europe. ICE serves customers in more than 70 countries. www.theice.com

The following are trademarks of IntercontinentalExchange, Inc. and/or its affiliated companies: IntercontinentalExchange, ICE, ICE and block design, ICE Futures Europe, ICE Clear Europe, ICE Clear Canada, ICE Clear US, ICE Futures U.S., and ICE OTC. All other trademarks are the property of their respective owners. For more information regarding registered trademarks owned by IntercontinentalExchange, Inc. and/or its affiliated companies, see https://www.theice.com/terms.jhtml

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 - Statements in this press release regarding IntercontinentalExchange's business that are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see ICE's Securities and Exchange Commission (SEC) filings, including, but not limited to, the risk factors in ICE's Annual Report on Form 10-K for the year ended December 31, 2011, as filed with the SEC on February 8, 2012.

ICE-ENGY

SOURCE IntercontinentalExchange

Honeywell Introduces Attune Advisory Services, Connects Cloud Computing and Facility Know-How to Cut Energy and Operating Costs

Fri, 18 May 2012 04:10:00 +0000

Honeywell Introduces Attune Advisory Services, Connects Cloud Computing and Facility Know-How to Cut Energy and Operating Costs

PR Newswire

-- Cloud-based, Software-as-a-Service Technology Provides Easy Access to Sophisticated Monitoring

and Analysis, and Honeywell Specialists

-- Recommended Building Improvements Delivered by Skilled Technicians

-- Online and Onsite Expertise Combine to Trim Facility Expenses Up to 20 Percent

SHANGHAI, May 18, 2012/PRNewswire-Asia/ -- Honeywell( http://www.honeywell.com.cn ) (NYSE: HON) today introduced its new Attune(TM) Advisory Services( http://www.attune.honeywell.com ), a suite of professional services that combines cloud-based tools and analytics with a global network of operations centers, and energy and facility experts to provide enhancements that can reduce utility bills and operating expenses up to 20 percent.

Attune Advisory Services help building owners wherever they are on the energy- and operational-efficiency spectrum, providing technology and support to gain baseline awareness of building performance, make improvements to reduce energy and operations costs, and define an ongoing strategy to manage and optimize a facility.

"The performance of building systems and equipment can degrade by as much as 5 percent every year, which translates to energy and operating costs that continually escalate,” said Paul Orzeske, president of Honeywell Building Solutions. “Companies are starting to realize the significant impact this can have, as well as the opportunity it presents for bottom-line savings. With Attune, we're providing the ease and convenience of cloud-based technology with expert advice and actionable guidance so companies can capture and maintain those savings.”

Facility managers are under increased pressure to go beyond simply monitoring building systems and providing base-level comfort. They are being asked to translate facility information into actions that deliver energy, operational and environmental outcomes. However, many don’t have the resources to assess building performance, identify opportunities to upgrade infrastructure and operations, or prioritize retrofits.

In fact, according to the International Energy Association (IEA), buildings account for nearly 40 percent of energy used in most countries. The IEA says the potential for savings is significant and can often be achieved at low or no costs. However, many barriers work against energy efficiency in buildings, including lack of useful information.

“We've gone to great lengths to reduce energy costs while keeping occupants safe and comfortable,” said Tom Damsell, technical services supervisor for Brookfield Office Properties, which owns and manages One Liberty Plaza( http://brookfieldofficeproperties.com/us/new-york/one-liberty-plaza ) in lower Manhattan. “Working with Honeywell, we’ve already cut annual electricity use at One Liberty Plaza by approximately 7 percent. Now, we’re looking for the support to help uncover the next level of savings - to find the improvements that are less obvious but highly impactful.”

Attune Advisory Services turn building performance data into an action plan that pinpoints potential upgrades and their expected return on investment. The service suite enables facility managers to optimize their budgets, personnel and systems by combining powerful cloud-based tools and analytics with insight and advice from a global team of Honeywell consultants, and customized support provided by skilled onsite technicians.

The services exceed typical facility management software, which often only provides a steady stream of data, but no insight or recommendations. Attune offers three levels of assistance - awareness, improvement and optimization - with programs focusing on either energy or operational efficiency. The new energy-focused services include:

Attune Energy Awareness

Energy Awareness enables facility managers to access and monitor electricity and natural gas consumption using a Web-based, software-as-a-service dashboard that collects information from utility meters to provide insight on building performance and create a baseline to help identify savings opportunities.

Honeywell also provides lobby signage that allows organizations to showcase the results of their efficiency efforts in clear-cut, graphic-driven terms, helping educate occupants, and spurring them to alter their behavior and energy use.

Attune Energy Improvement

Energy Improvement turns building data into actionable recommendations with the advice of Honeywell’s experienced analysts. Facility managers receive periodic reports that provide information on efficiency opportunities with related recommendations on upgrades and replacements. Building retrofits made as a result of these services can deliver energy savings of up to 10 percent, potentially paying for themselves within months.

Attune Energy Optimization

Energy Optimization delivers a powerful combination of improved building knowledge and actionable recommendations, backed by detailed monitoring, measurement and verification to help ensure facilities operate at their peak. Optimization can deliver energy savings of 10 to 20 percent on average, with the potential for even greater savings in older facilities.

Honeywell plugs into a building to gather systems data and assess performance using cloud-based fault detection and diagnostics. Local service technicians collaborate with a global team of optimization experts to review the findings and present a plan to help facility managers reduce utility consumption. Ongoing assessment and monitoring allow building owners to see that upgrades continue to deliver results to the bottom line.

Attune Operations Services

The goal of Operations Services is more efficiently run buildings. Facility managers can select different combinations of 24/7 equipment monitoring, remote and onsite response to alarm conditions, and Honeywell consultation for uncovering other potential improvements and lowering equipment life-cycle costs. By providing secure, cloud-enabled support, Honeywell is able to help address the issues building operators routinely face - assistance the company is already providing to more than 3,000 sites that are connected to its global operations centers.

Attune Operations Services provide guided solutions aimed at saving money and reducing downtime, and the improved insight allows Honeywell to dispatch technicians only when needed. It’s a cost-effective way to improve overall efficiency and another step toward optimization.

Additional Information

-- Attune Advisory Services website( http://www.attune.honeywell.com )

-- Attune Advisory Services overview( http://www.youtube.com/watch?v=-TJzLXPos3A )

-- Attune Energy Awareness video( http://www.youtube.com/watch?v=FEI_LQTYdG8 )

-- Attune Energy Improvement video( http://www.youtube.com/watch?v=yF7QiJsspVY )

-- Attune Energy Optimization video( http://www.youtube.com/watch?v=GfVjtbjcDKo )

-- Honeywell Building Solutions on Twitter( http://www.twitter.com/honeywellbuild )

-- Honeywell Building Solutions website( http://www.honeywell.com/buildingsolutions )

Honeywell (www.honeywell.com) is a Fortune 100 diversified technology and manufacturing leader, serving customers worldwide with aerospace products and services; control technologies for buildings, homes and industry; turbochargers; and specialty materials. Honeywell has a long history in China that goes back to 1935 when it established the first franchise in Shanghai. Today, all of Honeywell’s four Strategic Business Groups are represented in China, and all of them have relocated their Asia Pacific headquarters to China. Over the years, Honeywell has set up subsidiaries and joint ventures in over 20 cities across the country. Honeywell employs approximately 12,000 people in China. For more news and information on Honeywell, please visit www.honeywell.com.cn .

This release contains certain statements that may be deemed “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical fact, that address activities, events or developments that we or our management intends, expects, projects, believes or anticipates will or may occur in the future are forward-looking statements. Such statements are based upon certain assumptions and assessments made by our management in light of their experience and their perception of historical trends, current economic and industry conditions, expected future developments and other factors they believe to be appropriate. The forward-looking statements included in this release are also subject to a number of material risks and uncertainties, including but not limited to economic, competitive, governmental, and technological factors affecting our operations, markets, products, services and prices. Such forward-looking statements are not guarantees of future performance, and actual results, developments and business decisions may differ from those envisaged by such forward-looking statements.

SOURCE　Honeywell

Whitefox Receives Runner Up Award at CleanEquity Monaco

Thu, 17 May 2012 17:05:00 +0000

Whitefox Receives Runner Up Award at CleanEquity Monaco

PR Newswire

LONDON, May 17, 2012 /PRNewswire/ -- Whitefox Technologies Ltd has received an award from the prestigious CleanEquity Awards in Monaco. Whitefox received second place in the Award for Excellence in the field of Environmental Technology Commercialisation. The event ran from 28-30th March, Whitefox won best in class in the same category last year.

Gillian Harrison, CEO of Whitefox said, "We are delighted to have received another award from CleanEquity this year. It is extremely encouraging to see the participation of the Nobel Sustainability Trust, which recognises the important role technology is playing in achieving sustainable growth."

Mungo Park, Chairman of Innovator Capital, the specialist cleantech investment bank and owner of the CleanEquity Monaco brand, said, "Whitefox is deserving of this recognition and it is wonderful to see it has now many additional admirers."

CleanEquity Monaco 2012, hosted by Innovator Capital and the Nobel Sustainability Trust, showcases cutting-edge emerging cleantech companies to a world-class gathering of senior delegates including specialist financial and strategic investors, established industry players, key policymakers and international trade media. The presenting companies were sourced and screened by Innovator Capital, with help from global international partners. An independent panel of judges, audited by H.S.H Prince Albert, selected the award winners.

During the same week, Trond Heggenhougen, Business Development Director at Whitefox had been invited to participate in the Clean and Cool Mission in San Francisco. The Clean and Cool Mission is a UK government backed trade mission to San Francisco for 16 of the UK's top cleantech companies. "It was a great opportunity to meet strategic investors and potential partners in Silicon Valley. There is clearly an appreciation of the value that Whitefox brings to reducing the energy and water costs of ethanol production through our membrane technology and we look forward to developing these relationships in the months ahead."

Since receiving its award in Monaco in 2011, Whitefox has continued to receive recognition from a number of quarters, it was recently accepted onto the Entrepreneurs Fast Track by the Carbon Trust. Less than 10% of the companies that are assessed are accepted, and it means that Whitefox is seen as one of the leading low carbon entrepreneurs in the UK.

For more information please contact Ingrid Ugland at Media House International on +44 (0) 020 7710 0020

About Whitefox™

Whitefox Technologies Limited (www.whitefox.com) specialises in technology development and process integration based on membranes. The company focuses on efficient, integrated production systems through providing process engineering, as well as scalable membrane module design. With more than 10 years of experience Whitefox Technologies provides customers with proprietary solutions for efficient biofuels production. This is achieved by improving the performance of existing technologies, as well as by providing standalone solutions.

www.cleanequitymonaco.com

SOURCE Whitefox Technologies Limited

Honeywell Launches Third-Generation Film to Protect Solar Panels

Thu, 17 May 2012 02:00:00 +0000

Honeywell Launches Third-Generation Film to Protect Solar Panels

PR Newswire

PowerShield(R) 3W is more durable than competitive films, allowing solar panels to reliably supply power even in the harshest environments

MORRIS TOWNSHIP, N.J., May 17, 2012 /PRNewswire-Asia/ -- Honeywell( http://www.honeywell.com.cn ) (NYSE: HON) announced today that it has introduced its third-generation laminate film designed to protect solar power panels from harsh environments while helping them maintain power output over their 25-year lifespans.

The product, PowerShield(R) 3W, is a cost-effective backsheet for photovoltaic panels that helps protect the electrical circuits in solar panel modules, preventing moisture from entering the module and keeping electrical charges within the module. These features help the module retain maximum power output while maintaining electrical safety.

PowerShield 3W is a laminate that is bound by a proprietary adhesive specifically designed for photovoltaic applications. The adhesive helps make the laminate the most durable backsheet available from Honeywell to date.

“We are committed to developing solutions that increase the performance and overall lifetime of solar panels. Honeywell’s latest innovative backsheet, PowerShield 3W, provides solar panel manufacturers with cost-effective and reliable protection for their modules,” said Jerry Buchanan, global business manager for Honeywell’s photovoltaic backing systems business. “This backsheet has been proven to perform in some of the most rigorous conditions.”

PowerShield 3W is available now, and leading module manufacturers are already including it in module designs.

Independent photovoltaic-industry laboratory tests show that PowerShield 3W can withstand more than 3,000 hours of accelerating aging exposure at 85°C (185°F) and 85 percent relative humidity without losing structural integrity.

The backsheet’s superior adhesive offers excellent resistance to discoloration due to aging, which helps solar modules retain their appearance and reflectivity. Like all PowerShield backsheets, PowerShield 3W offers high resistance to environmental degradation from sunlight, heat, cold and humidity; strong resistance to acids, bases, solvents, salts and other chemicals; and resistance to excessive moisture infiltration within a module.

The technology behind PowerShield 3W is based on Honeywell’s more than 30 years of experience as the world’s leading manufacturer of high-barrier films for food packaging, industrial and healthcare applications, including packaging that protects drugs sold by the world’s leading pharmaceutical companies.

Honeywell has an active and global research and development program for photovoltaic backsheets, with laboratories in Morris Township, New Jersey, and Shanghai, China.

The Honeywell PowerShield supply chain provides module makers with a single point of contact for every component of their backsheet, helping ensure a reliable supply and quality.

Honeywell also offers printable dopants and chemicals for the manufacture of solar cells, the SOLARC(TM) anti-reflective coating for solar panels, and solar panel installation sales and services.

For more information on Honeywell’s PowerShield backing systems, visit www.honeywellpowershield.com.

Honeywell Performance Materials and Technologies is a global leader in developing and manufacturing advanced materials and process technologies. These materials and technologies are used by people every day in a wide range of industries and applications, from petroleum refining to environmentally friendlier refrigerants to bullet-resistant vests. Our advanced materials are critical in the manufacture of products ranging from nylon to computer chips to pharmaceutical packaging. Process technologies developed by our UOP business form the foundation for most of the world’s refiners, efficiently producing gasoline, diesel, jet fuel and petrochemicals. UOP is now pioneering technology to produce real fuels from renewable energy sources.

SOURCE　Honeywell

Study Documenting Engine Failures Requires EPA to Reconsider Increasing Ethanol in Gasoline

Wed, 16 May 2012 16:34:32 +0000

Study Documenting Engine Failures Requires EPA to Reconsider Increasing Ethanol in Gasoline

PR Newswire

WASHINGTON, May 16, 2012 /PRNewswire-USNewswire/ -- American Fuel & Petrochemical Manufacturers President Charles T. Drevna issued the following statement in response to a Coordinating Research Council report issued today on the organization's extensive testing of higher ethanol blends in vehicles that the Environmental Protection Agency says can handle such blends:

(Logo: http://photos.prnewswire.com/prnh/20120125/MM41823LOGO)

"The Coordinating Research Council's objective scientific tests have found disturbing evidence that increasing the amount of ethanol in gasoline above the current 10 percent causes serious damage to car engines. The study shows that a significant percentage of cars tested suffered engine damage when refueled with 15 percent ethanol. These are cars EPA has approved to run on E15 and are representative of approximately 5 million vehicles in the nation's existing fleet.

"This study represents a growing body of scientific evidence concluding that ethanol in blends greater than 10 percent damages vehicles and outdoor power equipment engines and ultimately leaves consumers forced to pay costly repair bills. Auto manufacturers are now labeling gas caps of new vehicles with a warning against using ethanol in blends greater than 10 percent in an attempt to insulate themselves from liability caused by EPA's approval of E15. Unfortunately, existing vehicles do not contain this warning and consumers may not fully understand its implications, leaving them to foot the bill for damage caused by this alternative fuel.

"Based on this new evidence, Environmental Protection Agency Administrator Lisa Jackson should reconsider her decision to allow the use of 15 percent ethanol blends in the nation's gasoline supply. EPA has a responsibility to protect the American people from inadequately tested fuel blends. Consumers have the right to expect federal officials to devote adequate time and funds to follow real science – not political science – and to put the interests of the American people first. No one should be asked to pump first and ask questions later and become a participant in a giant science experiment to line the coffers of large agribusinesses while overlooking the real-world implications of E15."

About AFPM
AFPM, the American Fuel & Petrochemical Manufacturers (formerly known as NPRA, the National Petrochemical & Refiners Association) is a trade association representing high-tech American manufacturers of virtually the entire U.S. supply of gasoline, diesel, jet fuel, other fuels and home heating oil, as well as the petrochemicals used as building blocks for thousands of vital products in daily life. AFPM members make modern life possible and keep America moving and growing as they meet the needs of our nation and local communities, strengthen economic and national security, and support 2 million American jobs.

SOURCE American Fuel & Petrochemical Manufacturers

ET Solar Announces Completion of 9.6MW of PV Plants in Germany

Wed, 16 May 2012 08:47:00 +0000

ET Solar Announces Completion of 9.6MW of PV Plants in Germany

PR Newswire

NANJING, China, May 16, 2012 /PRNewswire-Asia/ -- ET Solar Group Corp. ("ET Solar"), one of the global leading solar PV one-stop solution providers, today announces completion of two ground-mounted PV power plants in Germany with total installed capacity of over 9.6MW.

The plants are both ground mounted and are 4MW and 5.6MW by size. They are located in Oberröblingen, 100 kilometers west of Leipzig, and Rätzlingen, 100 kilometers from Hamburg respectively. ET Solutions AG, ET Solar's wholly owned subsidiary, performed full engineering, procurement and construction tasks with all PV modules sourced from ET Solar's China plant.

Mr. Dennis She, President and Chief Executive Officer of ET Solar, commented: "We are very pleased that our business relationship in the past three years has evolved so strongly and we look forward to further growing with Wattner with the solid track record we have built up."

Mr. Guido Ingwer, Managing Partner of Wattner, added: "Our relationship with ET Solar in the past few years has been more than satisfactory and the firm has really proven to be an excellent partner that provides both strong EPC services. We look forward to working with ET Solar to develop more large scale PV projects in the future."

About ET Solar

ET Solar is one of the global leading solar one-stop solution providers. With local sales and marketing subsidiaries and offices in Asia, Europe, and North America, ET Solar has provided solar modules, turnkey solutions services and PV balance of system components to its customers in over 50 countries. To learn more about ET Solar, visit http://www.etsolar.com.

About Wattner

Wattner finances power plants for renewable energies with an emphasis on solar power. The company is the only engineer-run issuing house with the most megawatt solar parks in Germany. To learn more about Wattner, visit http://www.wattner.de.

SOURCE　ET Solar Group Corp.

AFPM Highlights Critical Flaws In New Ethanol Study

Tue, 15 May 2012 18:54:20 +0000

AFPM Highlights Critical Flaws In New Ethanol Study

PR Newswire

WASHINGTON, May 15, 2012 /PRNewswire-USNewswire/ -- American Fuel & Petrochemical Manufacturers President Charles T. Drevna released the following statement responding to a study issued today by the Center for Agricultural and Rural Development that claims ethanol reduced wholesale gasoline prices by an average of $1.09 a gallon in 2011.

(Logo: http://photos.prnewswire.com/prnh/20120125/MM41823LOGO)

"This is a flawed study based on false assumptions that distorts statistics to reach the predetermined and erroneous conclusion that adding more ethanol to gasoline saves consumers at the pump. Today's study is just an update of an equally flawed 2009 study that even the authors conceded is not a reflection of reality. In their original 2009 report, the authors of the study wrote: '…it would be wrong to extrapolate the results to today's markets.'

"Increased amounts of ethanol in gasoline will likely lead to consumers paying even more at the pump. According to the AAA daily fuel gauge report, fuel that is 85 percent ethanol, E85, significantly decreases fuel economy and is more expensive than gasoline on a miles-per-gallon basis due to its lower energy content, even at today's prices. The AAA report notes that if consumers were to use E85 today, they would be paying nearly 60 cents per gallon more than if they filled up with regular gasoline.

"The best products always come out on top when consumers are allowed to make purchasing choices in the free market. If ethanol and other biofuels are such superior products, producers should join petroleum refiners in calling for an end to the Renewable Fuel Standard. The American people will benefit most from fair and open competition on a level playing field."

SOURCE American Fuel & Petrochemical Manufacturers