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ACE Backs Call For CFTC Investigation Of Alleged RINS Manipulation

The American Coalition for Ethanol is backing Senate Ag Chair Debbie Stabenow’s call for a CFTC investigation of RINS manipulation. ACE Executive Vice President Brian Jennings says alleged RINS manipulation by oil companies needs to be investigated and Commodity Futures Trading Commission is the proper way to do it.

Jennings says oil companies have been taking RINS, which are the proof of purchase credit they get when they buy ethanol and blend it into gasoline. They then turn those back to EPA which proves they bought the renewable fuel. He says oil companies have been taking advantage of RINS.

Jennings says lawmakers have been looking at the volatility of the RINS market thinking it means the RFS needs changing when actually it’s manipulation that’s causing unneeded spikes.

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Making headlines this week

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A look back on this week's biggest stories and the headlines you may have missed.

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Bill Approved to Address Elderly Abuse

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The South Dakota House State Affairs Committee approved a bill (Friday) that would set up an elder abuse task force in the state.

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Farm Bill Deadline Today

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Today is the deadline for farmers to make some key decisions governing their operations under the new farm bill.

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Fast Food Companies Support RFS Repeal

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Representatives of White Castle, Wendy’s And Arby’s Fast Food companies are urging support for legislation to repeal the Renewable Fuel Standard.

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Trans Canada Temporarily Loses Eminent Domain

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The York County Nebraska District Court has issued a temporary injunction against Trans Canada which disallows their use of eminent domain.