21 Dec '12, 8pm

Biodiesel Train Crossed US-Canada Border 24 Times to Exploit Biofuel Loophole

Biodiesel Train Crossed US-Canada Border 24 Times to Exploit Biofuel Loophole

You don't have to be Sherlock Holmes to figure out that there's something going on if a train crosses the US-Canada border 12 times back and forth (24 times across the line) without unloading its cargo. The CBC in Canada looked into it, and they discovered that a Toronto-based company was behind this strange behavior, making several million dollars importing and exporting biodiesel to exploit a loophole in a U.S. green energy program.Here's the CBC's segment on it: Renewable identification numbers (RINs) are credits set up by the EPA to "promote and track production and importation of renewable fuels such as ethanol and biodiesel." They are valuable because if an oil company doesn't have enough, it can buy them from others. In this case, the fraudsters... Bioversel Trading hired CN Rail to import tanker loads of biodiesel to the U.S. to generate RINs, which are valuable in...

Full article: http://www.treehugger.com/renewable-energy/biodiesel-trai...

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