The renewable fuel credits (RIN) market is reacting nervously to recent industry developments, with D6 Renewable Fuel (ethanol) RINs falling over 35 percent from January through March and D4 Biomass-based Diesel (biodiesel) down over 20 percent. According to Reuters, EPA has granted Andeavor a waiver from RFS requirements for its three smallest plants, although biofuel supporters argue that the waiver mechanism was intended to help small operations during times of financial hardship, whereas Andeaver is a large, profitable refiner. Also in the news: Philadelphia Energy Solutions (PES) has received approval for its bankruptcy exit plan, which excuses the company from having to make up its shortfall in renewable fuel credits through 2018. Going forward, more refiners may feel emboldened to challenge RFS requirements.
Ethanol & biodiesel RIN values
Source: The Jacobsen
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