The Obama administration’s latest proposal to reduce carbon dioxide emissions is largely aimed at the more than 600 US coal-fired power plants. But oil refiners should expect higher electricity costs the rule could bring, sources said Monday. The Environmental Protection Agency says the proposal, released Monday morning, would reduce emissions 30% from 2005 levels by 2030. Diana Cronan, a spokeswoman for the American Fuel & Petrochemical Manufacturers, said the proposal is expected to have an indirect effect on refiners, since the new regulations on power plants could increase electricity prices. After crude oil, electricity is the second highest cost refiners face, she said. Article continues below… Oilgram News brings you fast-breaking global petroleum and gas news on and including: Industry players, upstream and downstream markets, refineries, midstream transportation and financial reports Supply and demand trends, government actions, exploration and technology Daily futures summary Weekly API statistics, and much more […]