High RIN Prices Signal Constraints to U.S. Ethanol Expansion

Abstract

Renewable Identification Numbers (RINs) are codes assigned to batches of renewable fuel and are used in the administration of the federal Renewable Fuel Standard (RFS), an energy law that specifies minimum annual levels of biofuel consumption in the United States. Obligated parties under the RFS use RINs to report qualifying biofuel use to the U.S. Environmental Protection Agency (EPA) to demonstrate compliance with their annual RFS requirements.