Carl Icahn’s CVR Energy found to have shorted RIN market in 2016

April 12, 2017 |

In Washington, presidential advisor Carl Icahn’s CVR Energy did in fact short the RIN market in 2016, selling RINs at an average of 77 cents and reaching highs of $1 while the credits it now needs for compliance are averaging 55 cents. Prices fell after President Trump won the election and then again when Icahn was appointed as a special advisor. Reuters analysis shows the company estimated at the end of last year that it needed $186 million in RINs, following sales. Prices have fallen since then as well.

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Category: Policy

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