Watson: E15 rule could lead to higher domestic fuel prices

06/11/2013 | Reuters

The Environmental Protection Agency's E15 rule could prompt refiners to increase gasoline exports, which in turn would lead to higher domestic prices for the fuel, said John Watson, chairman and CEO of Chevron. E15 adds to costs, many refiners said, and a November 2012 report found that only a small percentage of U.S. vehicles have warranties covering engines using fuel with higher ethanol blends. "If you were me, would you sell a product that engine manufacturers won't certify?" Watson said.

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