The U.S. Environmental Protection Agency (EPA) released a draft proposal last week designed to ensure that renewable identification numbers (RINs), which refiners and other motor fuel suppliers buy to help meet federal Renewable Fuel Standard quotas, are authentic.
In a draft notice issued Oct. 31, EPA outlined a RIN quality assurance program (QAP) that it said could be used to verify that RINS have been properly generated. Independent third parties would develop and implement the QAPs based on requirements specified in regulations EPA intends to propose by the end of the year.
EPA's proposal is expected to provide a more structured way to assure that RINs entering commerce were validly generated. EPA expects that this will promote greater liquidity in the transfer and use of RINs, helping to make the RFS program more efficient and effective.
Once EPA releases the proposal, stakeholders will be able to comment on all aspects of the proposal, including the quality assurance program.
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