University of Illinois analysis indicates capping the price of biofuel credits or RINs at 10-cents per gallon would ultimately eliminate the Renewable Fuels Standard mandate for biodiesel and possibly hurt corn based ethanol. Texas Senator Ted Cruz made that proposal in a recent meeting with President Trump. Iowa Biodiesel Board Executive Director Grant Kimberley says the findings make sense.
He says President Trump is committed to the integrity of the RFS and won’t be influenced by Cruz’s proposal.
Kimberley says there are other studies that refute what Senator Cruz and his supporters are saying about the RFS and biofuels.
The University of Illinois analysis also pointed out that a RINs cap would violate the U.S. Environmental Protection Agency’s RFS waiver authority.
