Marathon Petroleum Corp (MPC)

[eFinanceMarkets]

$MPC Marathon Petroleum (NYSE:MPC) expects U.S. lawmakers to propose changes this spring to the federal Renewable Fuel Standard, executives said today during the company's earnings conference call.

MPC execs offered no specifics about what the company expected but their comments suggested a full repeal.

MPC President Don Templin is "fairly optimistic about the legislative efforts that are ongoing in Washington, D.C., led by Sen. Cornyn and others," and predicts a resolution with "some short-term relief but more importantly has a long-term solution to the RFS, elimination the mandate and allowing our transportation fuels and other transportation fuels to be able to participate in a free market."

The recent bankruptcy filing of Philadelphia Energy Solutions has focused more attention on federal fuel mandates, and EPA chief Scott Pruitt today stressed the need for changes to the RIN program.