The credits, known as Renewable Identification Numbers (RINs), jumped to a record $1.25 per gallon early on Monday, breaking through previous levels seen back in March. The jump in RINs last week came alongside a 7.6% gain on gasoline futures, which analysts attributed largely to a string of refinery glitches.
Amazingly, the small, illiquid market has surged more than 2,300% this year as oil refiners and importers fear scarce future stocks of the credits. Valero Energy CEO Bill Klesse told a Senate panel that the Renewable Fuel Standard, the 8-year old law requiring refiners to produce alternative fuels to help reduce the country’s dependence on foreign energy – is “out of control” and needs to be overhauled to better reflect today’s marketplace. He went on to say the RFS is broken and should be repealed. I don't yet have details in regards to what his thinking is, but this could be a significant development for the ethanol industry. Valero operates oil refineries, yes, but they also own 10 ethanol plants throughout the country. I'll be working to dig up some more info on this one tomorrow. For that report click here now and fill out some basic info.
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I subscribe to KVT's daily advisory and although I disagree with his current guesstimate of the corn crop size, I truly appreciate his insights and the way he gathers and consolidates important information that is likely to affect the markets. I also appreciate your posts and views, but a few of them have pushed the boundaries between sharing information and advertising for your company. Just sayin.
Chase, You sound alot like the Blow Hard Know Nothing KevinVanTrump
Check my bio, I work directly for him. No secrets or sock puppets here. This is my actual name, I have posted our actual website, nothing to hide here. Just posting information to get conversations started. Positive Negative, that is completely up to the posters of this message board. Agriculture.com has done a great job of providing a space where you guys can say as you please after reading, and I love it. I can tell you all you want to know about Kevin, I have some crazy stories, it has been a blast over here.
You enjoy reporting on the weather based off of your profession as a pilot and air traffic controller observing the various weather patterns all your life. However that stress has taken its toll and now it's time to kick back a bit. A appreciate the fact that you are living the American dream and are retired. I also appreciate your insight on the weather and on top of your incredible quick wit matched by your sense of Humor. You don’t catch me a troll type. I am simply a content provider. I post the best info I can so people can hold conversations in the form of posted messages. On top of that I just make it easier for people to read more by siting the source of the information. It’s free for 30-60 days and its up to the reader whether the report is educational and entertaining to them. Tried to keep the process as open and non pressured as possible. The report is not for everyone, we know that. but typically I private message those details to keep the salesy stigma to a minimum providing maximum freedom or those on the message board to post back and fourth. To the credit of agriculture.com I have found the conversations and opinions on this site have been both helpful and entertaining. You all have been phenominal posters. An overall good experience.
See there is that sense of humor I enjoy. Thanks Jen for keeping it both honest and humorous on the boards.
I thought you were a member. Heck, I don't even know what member status is, anyway.
when and why did you become a contributer instead?
Sorry, I agree with the other posters - this smells funny.
Not sure how one becomes a contributor vs member. Original posts and replies perhaps?