Biofuel RIN fraud not a problem, says RINAlliance

See on Scoop.itGreen Energy Technologies & Development

If you know what renewable identification numbers (RIN) fraud is, and want to avoid it you a.) are most likely involved in biofuel production or an oil company…

Duane Tilden‘s insight:

Oil companies like Sunoco buy RINs from biofuel producers to earn credits to meet the federal Renewable Fuel Standard (RFS). RINs are used to track each gallon of a biofuel as part of the federal rule. […]

 

There is a need for audits and accountability in the marketplace. The biodiesel industry saw several distressing – and mysterious – episodes last year. Jeffrey David Gunselman, former CEO of Absolut Fuels, was arrested for pilfering more than $50 million in fake RIN credits without producing any of the biodiesel. Rodney Hailey, who headed Clean Green Fuel LLC, alledgedly made $9.1 million selling renewable fuel credits that were not delivered.  […]

See on green.autoblog.com

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