CVR Energy’s 2018 RIN compliance costs fell 76% on year

In Washington, Bloomberg reports that an SEC filing by Carl Icahn’s CVR Energy shows the company saved $189 million in RIN compliance costs last year on the back of extensive lobbying he did with the President to get the Renewable Fuels Standard changed to reduce RIN costs for small refiners. RIN prices have tumbled in the aftermath of lower RIN demand as smaller refiners received waivers, cutting CVR’s 2018 costs to just $60 million, down 76% on the year.