RINsanity on repeat has oil industry in a tizzy

August 4, 2016 |

In Illinois, the oil industry is livid about spiking RIN prices in an environment of thin margins due to a long-standing bear market for fossil fuels. RIN prices have increased 32% in the past two months, with refiners potentially looking at a $1.8 billion RIN bill this year, with RIN costs outweighing all other production costs for some companies such as CVR Refining who says RIN costs are now double its labor costs. The last bout of “RINsanity” was in 2013. The Renewable Fuel Association has already called for an investigation into potential market manipulation.

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Category: Fuels

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