The Renewable Fuel Standard is not hurting refineries, writes Renewable Fuels Association President and CEO Bob Dinneen, in response to an op-ed by Sen. Patrick Toomey, R-Pa. Renewable Identification Numbers show the flexibility of the RFS, in that they are created for free by ethanol producers and traded between refiners without affecting the consumer. "One has to wonder if RINs were being bid higher by RFS opponents ahead of key Congressional hearings dealing with the RFS and gas prices. ... The fact that RIN prices plunged in the weeks following the last RFS hearing and the congressional recess only adds to the suspicion that the recent spike had more to do with political showmanship than market fundamentals," he writes.
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