Growth Energy believes industry stakeholders participating in the latest biofuels policy meeting may have found a path forward that is a win-win for the ethanol industry and refiners. The meetings focused on the price of Renewable Identification Numbers, or RINS, within the Renewable Fuel Standard.
Growth Energy CEO Emily Skor says the meetings found a path forward to lower RIN prices by working toward E15 sales year-round.
?(The) important takeaway for the biofuels industry is the President gets it. He took the time to understand what E15 and higher blends will do not only for the growth of biofuels and corn grind, but also what it will do in terms of impacting the price of RINs, and alleviating the expressed concerns by a handful of oil refiners,? Skor said.
Skor believes the year-round sale of E15 provides benefits to the entire industry.
?There will be a continued conversation, in Washington, D.C., about a path forward,? Skor said. ?If there is a win-win in this conversation, it?s Reid vapor pressure relief that allows year-round sales of E15. That is a win for the farmer, producer, consumer and also, the refiner. The more you blend, the lower cost of compliance with the Renewable Fuels Standard.?
Skor says biofuels industry is grateful to have a seat at the table at the White House.
?The second meeting did include industry stakeholders, including: farmers, ethanol producers, as well as representatives from the petroleum industry. Growth Energy had several board members in the meeting,? Skor said. ?The biofuels industry enjoys the opportunity to speak directly with the President who has been a champion of our industry since before he took office,? Skor said.
