Biofuels industry sends letter to President Trump offering solutions on RIN costs
In Washington, 90 organizations and companies signed onto a letter sent to President Trump letter to offer solutions to addressing RIN costs that also do not harm the Renewable Fuel Standard (RFS) program. Specifically, the group proposed curing inequity in the U.S. tax code between biofuels and oil, improving transparency in RIN trading markets to prevent market manipulation, and securing regulatory parity for Reid Vapor Pressure (RVP) between ethanol-blended fuels and standard gasoline fuels.
President Trump has stated that the RFS has reenergized rural America. The 300 biorefineries operating across the country today support hundreds of thousands of manufacturing jobs, reduce foreign oil dependence and keep fuel prices down. The RFS is necessary because fuel markets are not free markets. In the letter, the group tells the president: “The RFS is working, and we very much appreciate your unwavering support of the program.”
Category: Policy
