Environment

Instrument Business Outlook, Feb 15, 2007

Environment: The Environmental Protection Agency (EPA) announced regulations last week that will lower airborne pollutants over the next 25 years. Most significantly for oil refineries, the rules require that benzene levels be cut. On average, benzene made up roughly 1% of US gas in 2004. This proportion will be brought down to an average of 0.62% under these regulations. Oil refineries will be permitted to trade pollution credits, but no product shall contain more than 1.3% benzene. The rule on benzene will begin to be enforced in 2011, and the costs of compliance will total $400 million, according to the EPA.

Source: The Washington Post