October 4, 2013 Visit us online at www.wpma.com WP-10-04-13
EPA DELAYS FINAL RULE MANDATING REDUCTION IN GASOLINE SULFUR CONTENT
The EPA will delay publication of a final rule that would reduce the sulfur content of gasoline from 30 parts per million to 10 parts per million by 2017. The rule is controversial because it could add as much as nine cents per gallon to the cost of gasoline with very little environmental benefit. The major oil refiners along with PMAA oppose the new gasoline sulfur standard while automobile manufacturers say it is necessary to meet strict new federal vehicle emissions standards.
EPA originally planned to publish the final rule before the end of 2013. EPA now says the rule will be published in early 2014. In explaining the delay, the agency said it needs more time to analyze the more than 200,000 public comments submitted on the proposed rule. Notwithstanding the rulemaking delay, EPA said the 2017 effective date for the new gasoline sulfur standard would not be changed. In addition to the reduction in gasoline sulfur content, the Tier 3 rule would; reduce nitrogen oxide and volatile organic compound emissions from light and medium duty vehicles to 30 milligrams per mile by 2025 from the current 160 milligrams per mile; establish a particulate matter emissions standard of three milligrams per mile, down from the current 10 milligrams; reduce VOC and NOx emissions from heavy duty vehicles; and set an evaporative emission limits for both light and heavy duty vehicles.
REPORT SHOWS DEBIT FEE REFORM LOWERED CONSUMER PRICES
Two years following the implementation of the Durbin amendment to reform how debit fees are set, a study by economist Robert J. Shapiro of Sonecon LLC shows that the reduction in fees to merchants put $5.8 billion back into the hands of consumers through lower prices, which led to sufficient increased spending to support 37,501 new jobs.
"The facts are in and the numbers don't lie. Debit reform is helping consumers, and both consumers and the economy are big winners," said Merchant Payments Coalition (MPC) Chairman Mallory Duncan, senior vice president and general counsel of the National Retail Federation. "Debit card swipe fees are eating up less of consumers' purchasing power, and that has yielded significant savings. These are long-term benefits that will steadily boost the U.S. economy." MPC has released
state-by-state numbers for consumer savings and jobs with swipe fees reduced to 24 cents for credit cards and to 12 cents for debit cards. MPC took the findings in Dr. Shapiro's report and distributed them proportionally based on each state's share of the U.S. gross domestic product.
The report findings include:
- When debit swipe reform went into effect in October 2011, the average debit swipe fee on cards from covered banks dropped from 48 cents to 24 cents per transaction, saving consumers $5.8 billion in lower costs for goods and services and saving merchant businesses $2.6 billion in 2012. The savings, in turn, supported 37,501 new jobs.
- These savings and job gains would have been substantially larger if swipe fees had been cut to 12 cents as originally recommended by the Federal Reserve Board. If that cut had been implemented, an additional $2.79 billion would have been generated in consumer savings, $1.2 billion more in merchant savings and an additional 17,824 jobs would have been created.
- If swipe fees for all credit card transactions had been held to the same level as debit fees in 2012, consumers would have saved an additional $15.4 billion and merchants would have saved another $6.9 billion, which could have supported 98,600 additional jobs per year.
- With both debit and credit reform in place, consumers and merchants could have realized total annual savings of $34.9 billion, supporting a total of 153,976 additional jobs every year.
FEDERAL JUDGE BLOCKS SURCHARGE LIMITS
U.S. District Judge Jed Rakoff in New York has ruled in favor of retailers who challenged a New York state law limiting credit card surcharging. The judge found the law violated retailer free speech rights by prohibiting them from alerting customers to the extra costs of paying with credit cards.
Rakoff said the law violated the First Amendment of the U.S. Constitution saying it "perpetuates consumer confusion by preventing sellers from using the most effective means at their disposal to educate consumers about the true costs of credit-card usage."
Authorities, including New York State Attorney General Eric Schneiderman and Manhattan District Attorney Cyrus Vance, had argued that the law protected shoppers by enabling them to rely on advertised prices, rather than be surprised at checkout by unexpected surcharges.
PMAA PAC FUNDRAISER AT OMNI LA COSTA RESORT
PMAA Small Business Committee (SBC) Co-Chairs, Gerry Ramm and Michael Fields, invite you to attend an event in beautiful Southern California benefitting PMAA's SBC PAC.
The event will be held at the Omni La Costa Resort and Spa ($209 per room) from November 20-21. The hotel rate is good three days before and after the event if you want to come early or stay longer. Cost is $500 per golfing registrant and $200 for non-golfing guests. This is a tremendous opportunity for you to support the industry and develop and strengthen your business relationships.
The event will start Wednesday evening, November 20 with a cocktail reeption from 6-7 pm and dinner immediately to follow on the resort. On Thursday, former two-time PGA Championship winner, Dave Stockton, will give golf lessons to attendees from 8-11 am followed by 18 holes of golf on La Costa's Champions Golf Course.
PMAA would like to thank Orion Food Systems, especially Tom Kaspar, for facilitating this special event for PMAA.
To participate, go to http://pmaa.org/pmaa_today/attachments/PMAALaCosta.pdf to fill out the registration form. To become a sponsor of the event go to http://pmaa.org/pmaa_today/attachments/LaCostaSponsors.pdf . If you have any questions, please reach out to Michael Fields at firstname.lastname@example.org or Rob Underwood at email@example.com . We would greatly appreciate an investment in PMAA.
JOIN PMAA IN ATLANTA THIS OCTOBER
PMAA will hold its Fall Meeting on October 11-12 at the Hyatt Regency Atlanta. Please view current information at http://www.pmaa.org/pmaameetingsuupcomingmeetings.asp .
2014 WESTERN PETROLEUM MARKETERS CONVENTION & CONVENIENCE STORE EXPO LAS VEGAS, NEVADA
Start planning now to attend the 2014 WPMA Convention and Convenience Store Expo. It will be held at the Mirage in Las Vegas, Nevada. Mark your calendars for February 18-20, 2014.
MARK YOUR CALENDARS FOR UPCOMING EVENTS IN 2013
May 8-9, 2014 - NPM&CSA Big Dogs event - Red Rock Hotel & Casino Las Vegas, Nevada,
June 3-5, 2014 - MPMCSA Convention - Hilton Garden Inn - Missoula, Montana
June 16-19, 2014 - WOMA Convention - Suncadia Lodge - Cle Elum, Washington
August 6-8, 2014 - IPM&CSA Convention - Coeur d'Alene Resort - Coeur d'Alene, Idaho
August 19-20, 2014 - NMPMA Convention - Marriott Pyramid North - Albuquerque, New Mexico
Petro Pete: "Did you hear about the man how dreamt he was a muffler on a car and then part of a wheel? He woke up exhausted and tired."
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