Dinneen: Big Oil is bidding up the price of ethanol RINs

03/19/2013 | EthanolRFA.org/The E-Xchange blog

A Washington Times editorial takes the side of the oil industry, which maintains a virtual stranglehold on the fuel market, over its leading competitor, homegrown ethanol, writes Bob Dinneen, president and CEO of the Renewable Fuels Association, in a letter to the editor. Rather than blend more ethanol to comply with the Renewable Fuel Standard, "Big Oil would rather shut out competitors and shortchange consumers" by buying up ethanol Renewable Identification Numbers, pushing up their value, Dinneen states. "By selling these credits to each other, they're bidding up the costs of RINs -- needlessly, irresponsibly as a scare tactic," Dinneen notes.

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