Nick Loris was interviewed by Chris Woodward of The Deleware Valley Journal on gas prices.
Talk about high gasoline prices often revolves around Russia, but energy experts say another factor is making an even bigger impact:
RINs, or Renewable Identification Numbers, are part of the federal government’s Renewable Fuel Standard (RFS) system used to address carbon emissions.
“When refiners are not able to essentially generate enough fuel from the RFS they must buy or sell these credits,” Nick Loris, Vice President of Public Policy at Conservative Coalition for Climate Solution told Delaware Valley Journal. “If the refiners can’t comply by generating their own fuel, then the demand for these credits increases, and that increases the price of these credits anywhere from 30 cents to a few bucks.”
Read the full article here.