Tom O’Malley, PBF’s Executive Chairman, commented further on Renewable Identification Numbers (“RINs”), “We expect to spend over $200 million on RINs in 2013 based on current market conditions. This is one of the company’s largest single cost categories other than crude oil purchases. It exceeds the salaries and wages we pay to operate all three of our refineries.” Mr. O’Malley continued, “These costs will ultimately be borne by the consumer. We believe this is an expensive, non-productive tax on the American people and that the Renewable Fuels Program administered by the EPA should be adjusted so that the public does not have to absorb the costs of the program.”PBF Energy Inc. Declares Dividend
PBF Energy Reports Second Quarter 2013 Results, Declares Dividend Of $0.30 Per Share And Announces Confidential Submission Of A Registration Statement For An IPO Of Its Subsidiary, PBF Logistics LP
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
More than 30 investing pros with skin in the game give you actionable insight and investment ideas.