RINs lose $1.4 billion in value in just two weeks as biofuels fight continues

In Washington, Bloomberg reports that the ongoing fight between oil and biofuel interests over the lost gallons associated with the Environmental Protection Agency’s approval of 31 hardship waivers for small refineries, RIN prices are feeling a lot of pain. As of earlier this week, the news agency estimates $1.4 billion in RIN value has been lost just since September 18. They’ve fallen 31% in value since that date to just 17 cents earlier this week. Even RINs for advanced biofuels have fallen 7.7% during the same period.