Chairwoman Stabenow Calls on CFTC to Review Possible Manipulation of Renewable Fuels Market
by Greg Akagi (KansasAgNetwork) Michigan Democratic Senator Debbie Stabenow, Chairwoman of the U.S. Senate Committee on Agriculture, Nutrition and Forestry, today called on the Commodities Future Trading Commission to review recent allegations about possible manipulation of the markets for Renewable Identification Numbers (RINs) – the tracking mechanism to ensure petroleum blenders and refiners meet their requirements under the Renewable Fuels Standard. Stabenow called on the CFTC, which is tasked with overseeing markets for commodity futures, options and swaps, to use its expertise and authority to help preserve the integrity of the RINs market.
Press reports have highlighted potential speculation and manipulation of the unregulated markets, possibly contributing to recent market volatility and spikes in price. READ MORE and MORE (Biodiesel Magazine)