John W. Rich, Jr: API Must Do More About OPEC Production Cuts
Leader in Waste Coal and Biomass to Diesel Effort Says OPEC action is a Foreign "Surprise Tax for the Holidays" on American Families

 

GILBERTON, Pa., Dec. 23 /PRNewswire-USNewswire/ -- The American Petroleum Institute should do more to resist OPEC's manipulation of the price of oil, says John W. Rich, Jr., a leader in the domestic waste coal and biomass to diesel fuel effort.

"OPEC's decision to cut oil production again to raise the price of oil and gasoline is economic terrorism and amounts to a foreign imposed surprise tax for the Holidays for American families. It's time for the domestic oil industry to stand up for the American consumer and take action to resist OPEC's manipulation of the price of oil."

John Rich has previously called for a cap and trade policy on oil imports. The system would work like other cap and trade plans, whereby a cap is set, say at today's import levels, and incremental demand would be sourced from domestic alternatives or suppliers could trade production credits with other suppliers. Overtime, as alternative sources were increased, domestic production increased, or conservation increased, the cap could be pressed downward, further driving down demand and prices for imported foreign oil. This form of cap and trade system is already used to successfully control emissions of toxic and greenhouse gasses.

John W. Rich, Jr. has been a leader in the energy sector for decades and he is the CEO of WMPI PTY, LLC in Gilberton, PA and UltraCleanFuels.com. For over a decade his company has been leading the drive to build a waste coal and biomass to diesel fuel industry in the United States. Rich is proposing utilizing new technology for the gasification of existing waste coal intermingled with traditional biomass feedstock to produce an abundant supply of domestic liquid transportation fuels that will displace the foreign oil we are importing at the rate of $1 billion per day.

To learn more about John Rich's plan to produce liquid fuels from coal and to end the United States reliance on foreign oil, visit http://www.ultracleanfuels.com/.