RELEASE: Iowa to Pruitt: Unlock E15 to Lower RIN Prices
February 7, 2018
Contact: Cassidy Walter
Iowa Renewable Fuels Summit attendees sign letter to EPA Administrator asking for E15 RVP parity
JOHNSTON, IOWA – Iowans have an answer for EPA Administrator Scott Pruitt’s question of how to reduce RIN prices associated with the Renewable Fuel Standard – grant E15 the same RVP treatment as all other ethanol-blended fuels.
On January 30th, while Administrator Pruitt was testifying before the U.S. Senate Environment and Public Works Committee, Iowa Renewable Fuels Summit attendees were signing a letter to the administrator asking him to grant E15 RVP parity.
Recently Pruitt has made public his concerns over the price of RINs. Iowa Renewable Fuels Association Executive Director Monte Shaw said E15 will unlock the solution.
“From Harvard professors to Iowa retailers, the experts agree E15 RVP parity is the fastest way to lower RIN prices,” Shaw said. “It is simple supply and demand. Allowing retailers to blend E15 all year round would flood the market with RINs and reduce the price.”
During his hearing, Pruitt told Iowa Senator Joni Ernst the EPA is in the process of determining if the agency will provide E15 RVP parity.
“I’m hopeful that we’ll have a conclusion on that soon…It’s very important, and we are working to get an answer as soon as we can,” Pruitt said.
A copy of the letter summit attendees signed, and a photo of the signed poster was sent to Pruitt’s office earlier today.
Iowa Renewable Fuels Association Communications Director Cassidy Walter (left) and Policy Director Grant Menke (right) with the letter Iowa Renewable Fuels Summit attendees signed.
The Iowa Renewable Fuels Association represents the state’s liquid renewable fuels industry and works to foster its growth. Iowa is the nation’s leader in renewable fuels production with 43 ethanol refineries capable of producing nearly 4.4 billion gallons annually – including approximately 55 million gallons of annual cellulosic ethanol production capacity – and 12 biodiesel facilities with the capacity to produce 400 million gallons annually. For more information, visit the Iowa Renewable Fuels Association website at: www.IowaRFA.org.