Fraud in renewable fuel marker sales was predictable

10/08/2012
Many people never would cheat to make easy money. Regulation must account for the people who would and do. Identifying what people in the latter category see as opportunities is not difficult. To those folks, the mandatory exchange of cash for regulatory contrivance glitters like gold. A timely example is the renewable identification number. Under the federal Renewable Fuel Standards program, every gallon of mandated fuel produced in the US receives an RIN. Companies obligated to meet volumetric requirements for ethanol and biodiesel can comply by making or blending real fuel or by buying RINs from companies that don't need them. The market for RINs makes the renewable fuel program mor...
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