Oil group exec: RIN prices highlight RFS flaws

04/25/2013 | Politico (Washington, D.C.)

The Renewable Fuel Standard is hurting the U.S. because of the Renewable Identification Number setup, writes Charles Drevna, president of the American Fuel and Petrochemical Manufacturers. Ethanol producers are not obligated to produce under the RFS, but refiners and importers have to blend ethanol into gasoline, he writes. "When refiners and importers have reached this ethanol maxing-out point, or 'blend wall,' they have to buy those RINs on the open market -- but they're not the only entities buying and selling," Drevna writes.

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