Carper Statement on EPA’s RIN Market Decision

WASHINGTON, D.C. – Today, U.S. Senator Tom Carper (D-Del.), top Democrat on the Environment and Public Works Committee (EPW), applauded actions by the Environmental Protection Agency (EPA) that take first steps to stabilize price volatility in the Renewable Identification Number (RIN) market within the Renewable Fuel Standard (RFS) program.

“After years of calling on EPA to address possible RIN market manipulation, I am happy to see the agency finally take some steps that will help address this longstanding issue,” said Senator Carper. “My staff and I are currently reviewing these changes to assess whether they go far enough in striking at the root of the problem. Manipulation of the RIN market harms both biofuel producers and refiners, and I will be watching EPA’s next steps very closely to see how these important provisions are implemented.”

Background:

• In March of 2018, Senator Carper sent a letter to President Trump asking the administration to boost transparency by addressing RFS market manipulation.
• In September of 2018, Senator Carper applauded the launching of a new EPA website tracking RFS exemptions.
• In November of 2018, Senator Carper led a bipartisan letter to the Federal Trade Commission (FTC) requesting an investigation into RIN market manipulation.

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