6/14/2013

Refineries in Oklahoma are losing money because of the high cost of trading Renewable Identification Numbers to comply with the Renewable Fuel Standard, said. Sen. Tom Coburn, R-Okla. He made the statement during the confirmation hearing of Howard Shelanski, President Barack Obama's choice to lead the Office of Information and Regulatory Affairs. Coburn's statement is "laughable" and a "hyperbole designed to create a lot of angst about the RFS," said Bob Dinneen, president and CEO of the Renewable Fuels Association. "The issue is this: If refiners are having to buy credits, it's because they don't want to blend more ethanol into gasoline," Dinneen said.

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