Sen. Ron Wyden, D-Ore., chairman of the Senate Energy and Natural Resources Committee, wrote a letter to the Environmental Protection Agency asking for data that would explain the rising cost of Renewable Identification Numbers. "[I]t is critical that the committee have a better understanding of the causes and effects of RIN market volatility and developments," Wyden wrote. The Renewable Fuels Association has stated that oil companies are pushing up RIN prices in an effort to discredit the Renewable Fuels Standard, and that RIN prices would ease up if refiners bought more ethanol for blending.

Related Summaries