Reminder: The EPA is asking for input on its new Renewable Fuel Standard proposal, covering years 2026 and 2027, and we have until August 8 to submit our thoughts, which you can do via the EMPOWER website here.
Happy Monday!
-Charlie and the AFPM EMPOWER team
As always — if you have ideas for EMPOWER content, respond to this email or reach me directly at charlie@afpm.org.
What we’re reading this week
Trump Vows to Ramp Up India Tariffs in Escalation of Russia Spat - Bloomberg
President Donald Trump said he would be “substantially raising” the tariff on Indian exports to the US over the Asian nation’s purchases of Russian oil, a move New Delhi slammed as unjustified in an escalating fight between the two major economies.
Analysis-Sliding US rig count outpaces efficiency gains, threatening onshore oil output - Reuters
The falling number of oil and gas rigs deployed across the United States is reaching a level that would indicate onshore crude output from the world's top producer could fall in early 2026.
Tankers Deliver Russian Crude to India Despite USA and EU Pressure - RigZone
At least four tankers discharged millions of barrels of Russian crude at Indian refineries at the weekend, a sign the closely scrutinized deliveries are continuing as normal, even as the US ramps up pressure on the South Asian country to stop purchases.
Russia’s Gasoline Prices Surge to Record High on Refinery Attacks - OilPrice.com
The latest spike follows Ukrainian drone strikes on August 2 that damaged multiple oil refineries across Russia, cutting processing capacity by around 40,000 tons of crude per day. Facilities in Ryazan, Penza, Samara, and Voronezh Oblasts were targeted, with the Ryazan refinery sustaining notable damage. Repairs could take anywhere from one to six months, industry sources say.
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