Last week, the Environmental Protection Agency (EPA) Inspector General has launched an investigation to examine EPA's role in managing the renewable fuels credit trading program, which has been plagued by fraud. The credit trading program was created under the Renewable Fuel Standard program where renewable fuel produced or imported is assigned Renewable Identification Numbers (RINs). Companies marketing petroleum in the U.S. must produce a certain amount of renewable fuel or buy RIN credits.The inspector general's announcement said “improperly created [RINs] have been created and sold without any manufacture of corresponding biofuels, resulting in millions of dollars of fraud.”
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