Biobased and Renewable Products News: RINs

May 11, 2018
In Meeting With Senators, Trump Proposes Counting RINs From Ethanol Exports And Allowing Year Round Sales Of E15, Walks Back RIN Price Cap Proposal
On May 8, 2018, President Trump met with a group of Republican Senators and told them that he is considering allowing exported ethanol to count toward the volumes mandated by the Renewable Fuel Standard (RFS).  During this meeting, Mr. Trump also reiterated support for expanding sales of E15, and withdrew his verbal proposal to cap the price of RINs, which had been widely criticized by the ethanol industry. These announcements came after increasing concern about the future stability of the RFS after the U.S. Environmental Protection Agency (EPA) recently granted over two dozen hardship ... read more >
May 25, 2017
EPA Releases RIN Generation Data For April
On May 10, 2017, the U.S. Environmental Protection Agency (EPA) released Renewable Identification Numbers (RIN) generation data for April 2017, reporting that nearly 1.5 billion RINs were generated during the month.      Nearly 17.3 million D3 cellulosic biofuel RINs were generated in April, bringing the total for 2017 to 49.9 million, including 1.3 million D3 RINs generated for ethanol, 17.9 million generated for renewable liquefied natural gas, and 30.7 million generated for renewable compressed natural gas.  Of the 49.9 million RINs, 44.7 million were ... read more >
May 19, 2017
Senators Send SEC, EPA, Letter On Renewable Fuel Credit Market
On May 9, 2017, Senator Elizabeth Warren (D-MA), along with seven additional Democratic Senators, sent a letter to the Securities and Exchange Commission (SEC), the U.S. Environmental Protection Agency (EPA), and the Commodities Futures Trading Commission (CFTC) requesting an investigation into the activities of Carl Icahn for potential insider trading, market manipulation, and other securities and commodities law violations in the renewable fuel credit market.  The letter states that the actions of and the massive profit earned by Icahn raise questions related to conflict-of-interest ... read more >
January 27, 2017
EPA Releases RIN Generation Data For December
EPA released RIN generation data for December 2016, reporting that more than 1.8 billion RINs were generated during the month.  More than 16.8 million D3 cellulosic biofuel RINs were generated in December, bringing the total for 2016 to 178 million, including 3.8 million D3 RINs for ethanol, 66.8 million for renewable liquefied natural gas, and 107.5 million for renewable compressed natural gas.  Of the 178 million RINs, nearly 160 million were generated by domestic producers, and nearly 19.2 million were generated by importers. More than 524 million D4 biomass-based diesel RINs ... read more >
November 18, 2016
EPA Publishes Proposed Renewables Enhancement And Growth Support Rule
As previously reported in the Biobased and Renewable Products Advocacy Group’s (BRAG®) Biobased and Renewable Products Update of November 11, 2016, the U.S. Environmental Protection Agency (EPA) has issued a notice in the Federal Register of a public hearing for the proposed “Renewables Enhancement and Growth Support Rule.”  The proposed rule updates the regulatory structure to allow biofuel producers to process and convert biomass at different facilities, update fuel regulations to allow for more high-ethanol fuel blends in flex fuel vehicles (FFV), and permit ... read more >
November 18, 2016
EPA Approves Redfield Energy’s Efficient Producer Petition
On October 27, 2016, EPA approved an Efficient Producer petition submitted by Redfield Energy, LLC (Redfield Energy) granting “a pathway for the generation of renewable fuel (D-code 6) Renewable Identification Numbers (RINs) under the Renewable Fuel Standard (RFS) program for the production of non-grandfathered ethanol” produced by dry milling.  The Efficient Producer petition process is designed to accelerate the registration process for starch and grain sorghum ethanol producers that exhibit superior process efficiency.  Redfield Energy claimed the process achieved a ... read more >
April 18, 2014
Petroleum Groups Want Biodiesel “Loophole” Closed In RIN Quality Assurance Rule
API, AFPM, and ExxonMobil urged EPA and the Office of Management and Budget (OMB) to eliminate the ability of biodiesel producers to sever RINs from batches of fuels produced as part of an upcoming final rule establishing a quality assurance program for the fuels credit market. The rule, as proposed, would establish qualifications for third-party auditors who would determine the validity of the RINs. It would also establish audit procedures for renewable fuel production facilities, including minimum frequency, site visits, review of records, and reporting requirements. The rule is open ... read more >
March 7, 2014
OMB Reviewing Final EPA Rule On RIN Fraud
On February 25, 2014, EPA sent its final rule to "Establish a Voluntary Quality Assurance Program for Verifying the Validity of Renewable Identification Numbers Under the RFS2 Program" to the U.S. Office of Management and Budget (OMB) for final review. EPA is expected to take action to release the final rule as soon as OMB completes its review. As proposed, the rule would be retroactive to January 2013. It is the result of efforts to help restore investor confidence in the Renewable Identification Number (RIN) market and address the argument of some Renewable Fuel Standard ... read more >
January 24, 2014
New Biodiesel RIN Fraud Case
On January 16, 2014, the U.S. Department of Justice (DOJ) announced that it has indicted two individuals in biodiesel fraud schemes worth more than $37 million. A copy of DOJ's press release is available online. James Jariv and Nathan Stoliar have been charged with 57 counts of conspiracy, wire fraud, false statements made under the Clean Air Act, obstruction of justice, and conspiracy to engage in money laundering. In one scheme, the two allegedly generated more than $7 million in fraudulent renewable fuel credits under the federal Renewable Fuel Standard (RFS), which were then sold to ... read more >
October 18, 2013
Reports On Potential Legislative Language To Increase Value Of Advanced Biofuel RINs
It is being reported that API and the Advanced Biofuels Association (ABFA) are working together on potential legislative language to increase the value of RINs associated with advanced biofuels and to allow them to help make up conventional RINs due to blend wall constraints under the federal RFS. According to news reports, the two groups are working to present this potential language to members of the House Energy and Commerce Committee who are working on developing legislation to modify the RFS. Several of API's largest members, including Shell and BP, are working on projects to ... read more >
September 27, 2013
Another Biodiesel RIN Fraud Case, But Industry States It Should Not Change Current Enforcement Plans
Last week, federal securities regulators charged Imperial Petroleum, Inc. and its subsidiary, Indiana-based E-Biofuels LLC, with carrying out a fraudulent federal RFS renewable identification number (RIN) and tax credit scheme. It is alleged that from November 2009 to January 2012, this scheme generated 52 million fraudulent RIN credits and $35 million in false tax credits, and cost investors approximately $60 million. More information is available online. This is the fourth major biodiesel RIN fraud case, but the industry's leading voice in Washington, D.C., the National Biodiesel ... read more >
September 27, 2013
Senator Urges Investigation Of RIN Market Speculation
This week, Senator Debbie Stabenow (D-MI) sent a letter to the Commodity Futures Trading Commission (CFTC) asking for an investigation into claims that speculators are manipulating the RIN market in which RIN credits are bought and sold to help obligated parties meet their annual renewable volume obligations (RVO) under the federal RFS. Senator Stabenow expressed concern with the lack of transparency in the RIN market. Ethanol RIN prices have dramatically risen this year and there have been allegations that the increase has been the result of ... read more >
September 13, 2013
EPA Inspector General Faults RIN Fraud Oversight
On September 6, 2013, EPA's Office of the Inspector General (IG) issued a report finding that the Agency does not meet the control standards for monitoring some of the new programs and activities designed to prevent and reduce instances of fraudulently generated RINs under the federal RFS. EPA's one-page report summary is available online and its 23-page full report is available online. The EPA IG findings come at a vulnerable time for the RFS and its allies. Trade groups representing the oil and gas industry, among others, have called on EPA to modify the RFS in several ways, ... read more >
September 5, 2013
Aemetis Announces RFS Pathway Approved By EPA
Renewable fuel and chemical company Aemetis, Inc. announced this week that EPA has approved its Renewable Fuel Standard (RFS) pathway to produce ethanol using grain sorghum and biogas with the Company's existing Combined Heat & Power system to generate D5 Advanced Biofuels Renewable Identification Numbers (RIN). This announcement means that additional fuel will qualify to fulfill the annual renewable volumetric targets under the federal RFS statute. It comes as EPA is preparing its proposed RFS volumes for 2014, which the Agency indicated it would likely reduce from those set in the ... read more >
April 25, 2013
Refiners Announce Limited Support For EPA’s RIN Fraud Proposal
Last week was the deadline to submit comments to the EPA on its proposal to prevent future instances of Renewable Identification Number (RIN) fraud. The proposal is intended to create a voluntary plan under which biofuels producers could have their RINs validated by a third party to help provide obligated parties (refiners) confidence in the validity of the RINs they may purchase to meet their renewable volume obligations under the RFS. In its comments, the American Petroleum Institute offered limited support to the proposal, while reiterating its intent to work to repeal the ... read more >

 
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