Valero’s CEO says RFS is broken, should be repealed and replaced

July 17, 2013 |

In Washington, Valero’s CEO told a Senate hearing that the Renewable Fuel Standard is “broken” and should be repealed and replaced with a better functioning policy. The blend wall has led to soaring RIN prices that oil refiners must pay because they say that ethanol can’t be blended any higher, so their backs are against the wall, literally, forcing prices higher.

Category: Policy

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