RIN values continue to crash following last Friday’s news that the White House was considering options to provide economic relief for refiners. In the past three trading sessions biodiesel RINs have fallen 21 percent while ethanol RINs have dropped 25 percent.
The administration is considering measures to reduce compliance burdens on refiners, despite evidence showing RINs are a cost generally passed on to consumers and not burdensome to the refiner.
Instead of discussing the issues at hand, the argument becomes a political hot potato. During the prior administration it was pitted as Big Oil vs Big Ag, distressing two the prior presidents largest support groups. Now it is being labeled as fight between blue-collar refinery works and farmers, two of the current presidents more important constituencies.
In reality RINs have very little impact on a…
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