Senator Cruz wants RIN prices capped at 10 cents

In Washington, Reuters reports that Texas Senator Ted Cruz has proposed reforms to the Renewable Fuel Standard including capping RIN prices at a flat 10 cents across the board for all compliance requirements rather than different prices set by the market for different types of fuel like advanced biofuel or biomass diesel. RIN prices fell to around 70 cents last week from around 90 cents the end of November but the biofuels industry has made it clear for a long time that capping RIN prices were not an option for RFS reform.

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