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RFA Statement on EPA Efforts to Provide Greater Transparency on RFS

September 20, 2018

           

Today, Acting EPA Administrator Andrew Wheeler announced new efforts to provide greater transparency in the Renewable Identification Number (RIN) market, used to show compliance with annual Renewable Fuel Standard requirements. As part of today’s announcement, EPA said it will be providing aggregated annual data on small refiner exemptions, as well as waiver requests for current and future compliance years. RFA President and CEO Bob Dinneen had the following statement: “This is a step in the right direction, and we applaud Acting Administrator Wheeler’s initial efforts to provide greater transparency to the RFS program. Today’s action may prevent small refiners from obtaining market-moving information before other participants in the marketplace. That’s important because it appears the RIN market was gamed earlier this year by a small group of refiners who were privy to sensitive information regarding compliance exemptions before the rest of the market knew what was going on. Hopefully, this will put a stop to that. However, more information and transparency are still needed. Market participants and the public deserve to know exactly who is receiving small refinery exemptions and what criteria is being used by EPA in making the decision to grant or deny a waiver request.”