Oil companies are pushing up the value of ethanol Renewable Identification Numbers because they would rather trade RINs than increase ethanol blending to comply with the Renewable Fuel Standard, said Bob Dinneen, president and CEO of the Renewable Fuels Association. Oil companies are citing the recent RIN-price spike as a reason to do away with the RFS, even though it was refiners who wanted the RIN credits for RFS compliance in the first place, Dinneen said.

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