03/15/2019 | Press release | Distributed by Public on 03/15/2019 15:08
WASHINGTON, D.C. - This week, the Environmental Protection Agency (EPA) announced their proposal to reform the Renewable Identification Number (RIN) market, and to allow for year-round sales of 5 percent ethanol (E15). In response, U.S. Sen. Ted Cruz (R-Texas) issued the following statement:
'Earlier this week, the EPA released a proposed rule that includes a number of reforms intended to bring more transparency to the RIN market,' Sen. Cruz said. 'For too long, the broken RIN system has hurt our nation's farmers and refinery workers, and I have long-advocated for the EPA to focus their efforts on the issue of skyrocketing RINs. I am encouraged by the proposal presented by Administrator Wheeler, as it is a step forward towards addressing the concerns about manipulation and speculation in the RIN market. And I urge him to continue to take every action possible to reduce compliance costs for our nation's independent refiners and bring stability to the volatile price of RINs.'