US Congress told RIN program damaged, but worth repairing

07/23/2012
Cases of fraud have badly damaged a federal biodiesel credits trading program, but it's not beyond repair and deserves to be saved, witnesses told a US House Energy and Commerce Committee subcommittee on July 11. The system of credits—known as renewable identification numbers, or RIN—is functioning comparatively well overall, they indicated. "This program is not broken," maintained Andrew Sprague, owner of Union County Biodiesel Co. LLC in Morganfield, Ky. "Many of us were surprised in late 2011 that it was working so well." The biodiesel industry is coming up with its own independent verification program and should be allowed to help solve the problem, he told the com...
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