Gas Prices Will Climb 77 Cents Under Boxer/Kerry


Bill Klesse, president and CEO of Valero Energy Corp., said the Boxer-Kerry climate change bill could increase the price of a gallon of gasoline by 77 cents. In testimony Wednesday before the Senate Environment and Public Works Committee on behalf of the National Petrochemical and Refiners Association, Klesse said the bill would be “devastating” for the U.S. refinery business.

Kleese said that Valero and other refiners would be forced to close some U.S. plants if the bill in its current form becomes law. “One of our chief concerns is that this legislation provides foreign refiners and petrochemical operations a competitive advantage to American businesses,” Klesse testified.

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