WASHINGTON, DC - The Subcommittee on Environment, chaired by Rep. John Shimkus (R-IL), announced today a hearing for Wednesday, July 25, 2018 at 9:15 a.m. in room 2322 of the Rayburn House Office Building. The hearing is entitled, “Background on Renewable Identification Numbers under the Renewable Fuel Standard."
Next week, #SubEnvironment will examine the Renewable Fuel Standard (RFS) program’s use of renewable identification numbers (RINs). RINs are credits used for compliance with the RFS, and are the “currency" of the RFS program. Each gallon of qualifying biofuel that is produced is assigned a RIN, essentially a group of 38 digits that identify the fuel producer, the year the fuel was produced, and the type of fuel.
“The RIN market is an especially complex part of the RFS and is often not well understood," said #SubEnvironment Chairman Shimkus. “As we look at the future of transportation fuels, we must develop a greater understanding of what RINs are, how they are used, and what changes, if any, are needed to address issues in the marketplace. I look forward to next week’s discussion about RFS compliance mechanisms as we continue to consider reforms to the program."
The Majority Memorandum, witness testimony, and live webcast will be made available as they are posted on the committee’s website HERE.
