Last November, the EPA did an utterly sensible thing: It walked back on mandates for refiners to blend ever-increasing amounts of ethanol in to our nation’s fuel mix. Now, Reuters has a fascinating post-mortem on the thinking behind that decision.
The EPA invalidated 33.5 million renewable fuel credits (RINs, for shorthand) on Wednesday for the simple reason that the company that sold the credits didn’t actually produce the fuel. It’s the fourth case of fraud for America’s biofuels boondoggle, but the RFS itself is an even bigger fraud than cons taking place within it.
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