Posted on 07/17/2013 5:40:43 PM PDT by Hojczyk
The Renewable Fuels Standard — that oh so ingenious method of creating a fake market for a not-green, not-clean, food-price-spiking, special-interest-serving and overall terrible product — requires that the nation’s refiners blend an ever-increasing volume of specified and so-called biofuels into the fuel supply.
Refiners, however, are insisting that we’re now getting to a point at which mixing the required volumes will exceed the 10 percent ethanol threshold they find acceptable for use in cars and trucks, a.k.a. hitting the “blend wall.” Refiners that don’t manage to achieve the mandated volume of biofuels are required to purchase credits (RINs), and heightened demand for the credits is steadily pushing up their prices as the “blend wall” gets closer:
A leading U.S. oil executive urged legislators on Tuesday to relax a requirement to use renewable fuel in gasoline, blaming an “out of control” market in biofuel credits known as RINs for adding to fuel costs in a recent run-up in gasoline prices.
At a Senate Energy Committee hearing, lawmakers sought answers for why a surge in domestic crude oil production to the highest level in over two decades had failed to bring down fuel prices. Average U.S. gasoline rates jumped 15 cents over the past week to $3.64 a gallon on Monday, data showed.
Oil refiner Valero Energy Corp Chief Executive Bill Klesse said the government’s renewable fuel mandate is affecting prices in the refined fuel market, repeating a long-standing source of aggravation for the energy industry. …
“The thing the government can do is to get a hold of RINs,” Klesse said. “RINs are out of control.”
(Excerpt) Read more at hotair.com ...
food should fuel your body not your car
Just another radical liberal scam in action. Stealing your money is all they care about.
Yeah, burn your food to run your cars, especially when there is so much crude available. Great idea! Sounds like something a politician would think of.
Hey, America voted for Obama and his EPA. Not to rub it in, but we could have been moving the other way with this nonsense, and gasoline would be cheaper and less damaging to engines.
Hey, America voted for Obama and his EPA. Not to rub it in, but we could have been moving the other way with this nonsense, and gasoline would be cheaper and less damaging to engines.
“...and gasoline would be cheaper...”
Food would be cheaper as well. So many farmers switching from those boring (and non-subsidized) crops like wheat, barley, etc. - but into that sexy (and subsidized) corn.
The alternative media needs to make the case loudly and succinctly that the ethanol is not green and not clean. People who bought into Peak Oil need to be convinced that *easy* oil is not a thing of the past. No one in the MSM is reporting that there are flowing wells in the Baaken, for example. Greenies and Peak Oilers believe fracking is dirty and dangerous and so, they discount the increased supply, thinking it is *bad*. An expose of who is benefiting from high gasoline prices is needed.
The left gains power by keeping problems current. They will fight any solutions in order to keep control. Americans will never regain freedom until the monopoly on information by the progressive MSM is broken.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.