Environmental Protection Agency officials have recently said there’s been no manipulation of the Renewable Identification Number market. Renewable Fuel Association’s Senior Vice President, Geoff Cooper says he doesn’t know how the EPA could have concluded that just by looking at their own information.
Cooper says those non obligated parties include a large number of groups including speculators.
He says the agency’s data doesn’t really indicate very much and doesn’t show how the market may have been manipulated.
Cooper says Congress shouldn’t get involved in the issue. He says the EPA and the President need to be more transparent about how RINs are traded and who’s doing it. RINS are the renewable identification numbers submitted by obligated parties to the EPA for the amount of biofuel that’s been blended into fossil fuels.
