NEFI & ABFA support heating oil industry's net-zero by 2050 pledge

Written on: March 17, 2021 by ICM

The National Energy & Fuels Institute (NEFI) is partnering with the Advanced Biofuels Association (ABFA) to promote policy solutions that will help to achieve net-zero economywide emissions by 2050.
Together, the organizations will promote government policies and industry initiatives designed to support the use of advanced biofuels in the home energy market. Renewable liquid heating fuels already supplant millions of gallons of conventional heating oil across the country, which increases energy and environmental security, drives down greenhouse gas emissions, supports rural economies and local small businesses and avoids expensive heating system conversions.
Advanced and cellulosic biofuels, some of which have been used to heat homes for nearly 20 years, deliver a minimum of 50% greenhouse gas (GHG) emissions reductions compared to fossil-based alternatives. NEFI and ABFA will actively promote the development, deployment and use of renewable fuels. They will seek opportunities to work with the Biden Administration and Congress to leverage this extraordinary potential for dramatic GHG reductions without jeopardizing small businesses or placing costly new burdens on consumers.
NEFI, which represents the nation’s retail distributors of liquid heating fuels and related products and services, sponsored a 2019 heating oil summit in Providence, RI where hundreds of industry professionals ratified a pledge to reduce emissions by 40% by 2030 and deliver a net-zero liquid heating fuel to consumers by 2050. Studies by IHS Markit and Kearney Consulting have since concluded the goals of this document, known as the “Providence Resolution,” can be achieved through greater use of renewable fuels.
“We can and will achieve net-zero by 2050,” said Sean Cota, NEFI’s President & CEO. “Vigorous research and testing of renewable liquid heating fuels find they efficiently decrease emissions and do so at little-to-no cost to the consumer. Unlike electricity, which is still largely generated by fossil fuels, renewable liquid heating fuels can be stored and delivered by our small family businesses and utilized by American families during the most severe winter weather. If government policies are performance-based, appropriately measure greenhouse gas emissions, and designed to minimize consumer impacts, we will do very well. This shared vision for market-driven and pro-consumer policies forms the foundation of NEFI’s partnership with ABFA.”
ABFA represents more than 40 member companies in the U.S. and around the world who develop, produce and distribute advanced biofuels.¬†Michael McAdams, President of ABFA, noted a close relationship with NEFI since 2015, when the two organizations began working together to protect the federal biodiesel blenders’ tax credit.
“We are pleased to now formalize this long-time partnership,” McAdams said. “ABFA and NEFI share a vision for a low-carbon future for the liquid fuels industry that is critical to both American competitiveness and environmental security. I can tell you firsthand, the folks at NEFI are some of the best ‘boots on the ground’ in the Northeast states and in Washington. We would not have successfully reinstated the blenders’ tax credit without their support. Today the liquid fuels industry faces even greater challenges and I want them by my side going forward.”