Keep reading for some examples:
CVR: "CVR Energy Subsidiary CVR Refining Reports Minimal Investment Required To Meet EPA Proposed Tier III Standards"
Northern Tier Energy: “No Capital Spending Required” http://www.prnewswire.com/news-releases-test/northern-tier-energy-lp-comments-on-epas-proposed-tier-iii-standards-201294311.html
These and other refinery comments were summed up nicely in a piece published online this week by the publication InsideEPA. (Sorry, you need a subscription for this one, though you can purchase the piece at http://environmentalnewsstand.com/ )
Here is a very brief excerpt:
A split is emerging within the refining industry over the American Petroleum Institute's (API) claims of massive costs in meeting EPA's “Tier III” fuel rule that could add up to 9 cents per gallon to gas prices, with some refiners saying the actual costs will be much lower -- potentially undermining API's bid to block the rule.
The refining sector sources say the $10 billion cost number in the API-touted study appears too high. One source says based on recent estimates by the firm Valero -- the nation's largest refiner -- it is hard to expect the costs to be as high as $10 billion to comply with Tier III if EPA finalizes it as proposed. Valero says it will cost the company between $300 million and $400 million to comply with Tier III, says the source. Industry observers say the costs for other large refinery companies, such as Tesoro, are also expected to be lower than API's projections.