26 Sep '12, 3pm

"Stop RIN Fraud Act" Introduced to Congress: Is It a Viable Biofuels Solution?

"Stop RIN Fraud Act" Introduced to Congress: Is It a Viable Biofuels Solution?

H.R. 6444, dramatically titled the “Stop RIN Fraud Act ” by its sponsors, Reps. Pete Olson (R-TX) and Marsha Blackburn (R-TN), aims to stabilize the market for smaller producers that have been negatively impacted by three cases of RIN fraud uncovered since the end of 2011. The RIN program was set up to allow fuel producers and refiners to comply with the Renewable Fuel Standard (RFS), which requires them to blend a certain amount of renewable fuel into petroleum stocks every year. Each gallon of renewable fuel is assigned a RIN, and the RINs are traded between companies to meet their obligations. Obligated parties can demonstrate compliance either by acquiring the required volumes of renewable fuels together with their associated RINs or by acquiring the RINs without the associated fuel. The ability to disassociate a RIN from the product was cited by at least one biofuels ...

Full article: http://www.renewableenergyworld.com/rea/news/article/2012...

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