Corn Growers Pass Resolution on RINs
The White House continues to hear discussions about a possible cap on the price of Renewable Identification Numbers. While that’s going on, the Hagstrom Report says the National Corn Growers passed a resolution this week asking the President to “keep the current RIN system without change.” That view is also shared by Iowa Senator Chuck Grassley and other biofuel industry leaders.
The Corn Growers passed the resolution at their annual Corn Congress that followed the Commodity Classic. The recent Classic was dominated by rumors that Ag Secretary Sonny Perdue had already agreed to support a cap on the price of RINs, which independent refiners are in favor of. Perdue has denied that he agreed to the cap, but also says the resolution to the conflict should be to increase demand by removing barriers to year-round use of E15.
The Ag Secretary has been vague about whether or not price caps on RINs should be part of the package to allow more E15 use. Under current regulations, vehicles can’t fill up with E15 in the summer, which the ethanol industry says is safe for today’s autos.
Source; NAFB News