Largest East Coast Refinery Bankrupt, Cries Foul over RFS

Dan Industry News Release

The largest oil refinery on the U.S. East Coast will file for Chapter 11 bankruptcy, and Philadelphia Energy Solutions LLC, owner of the complex, claims the Renewable Fuel Standard (RFS) is to blame. Since 2012, Philadelphia Energy Solutions has spent more than $800 million on credits to comply with the law, making it the refiner’s biggest expense after the purchase …