At a national petroleum industry conference, MathPro made an invited presentation identifying and discussing legislative and regulatory developments likely to have important effects on U.S. refining economics in the next decade. The presentation addresses these new and prospective initiatives:

• Proposed federal carbon cap-and-trade legislative


• Federal fuel economy (CAFÉ) standards


• Federal Renewable Fuels Standard (RFS2)


• California Low Carbon Fuels Standard (LCFS)


• Proposed sulfur control standards, including international standards for bunker fuel

The presentation briefly describes each initiative and delineates its implications for the U.S. refining industry.