RIN Numbers Increase in value 20x
Renewable Identification Numbers are becoming increasingly important not just for people in environmental compliance or accounting , but also for those in marketing, investing and sustainability. By Anduin Kirkbride McElroy in Ethenol Producer Magazine Passage of the Energy Independence & Security Act of 2007, and the dramatically increased renewable fuels standard (RFS) within it, took Renewable Identification Numbers from a necessary pain to a marketable commodity. Between December and late February, the value of RINs grew from 0.25 cents to 5 cents, according to Paul Machiele, fuels center director for the U.S. EPA. The program is in its infancy and RINs aren’t well understood, but initial indicators show they have the potential to be a significant environmental currency. RINs are mechanisms the EPA created to ensure compliance with the first RFS. The Energy Policy Act of 2005 mandated that obligated parties, which include refiners, importers and gasoline blenders, fulfill a r...
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