Ira Wexler/NATSO
Sen. James Inhofe (R-Okla.) sent a letter to the Environmental Protection Agency (EPA) on June 12 calling on the agency to take additional steps to ensure the validity of renewable fuel credits (RINs) instead of penalizing companies that buy fraudulent credits in good faith. Sen. Inhofe wants EPA to publicly post a list of renewable fuel producers that it has inspected and found to be producing valid renewable fuel credits, effectively shifting the burden for verifying the credits from purchasers to the agency.
Under the federal renewable fuels standard (RFS), EPA requires refiners and other nonrenewable fuel companies to blend certain amounts of renewable fuel into the overall fuel stream. Obligated parties meet the requirement through blending renewables or purchasing RINs from downstream blenders. Over the last couple years, EPA has issued several notices of violation to biofuel producers, who have allegedly generated and sold fake credits. In turn, EPA also has fined victims of the fraud that unknowingly purchased the fraudulent RINs.
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This article originally ran in NATSO News Weekly (NNW), NATSO's member only weekly electronic newsletter. NNW is packed with the latest updates on government and business issues affecting the truckstop and travel plaza industry. If you aren't reading NNW, you are missing out. Not a member? Join today or submit a request to receive additional information. If you are a member and not receiving NNW, submit a request to be added to the email list. |
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