Sen. Ted Cruz gets it right on RINs in Renewable Fuel Standard

Nov. 21, 2017, Fairfax, Va.—Americans for Limited Government President Rick Manning today issued the following statement praising Sen. Ted Cruz’ letter letter Cruz sent to Iowa Governor Kim Reynolds stating, “the real beneficiaries of unsustainably high RIN prices, however, are not corn farmer or reinvestment in RFS infrastructure, but rather market speculators”:

“In an era of extreme bipartisanship, it is great to see Senator Ted Cruz take the lead on an issue that includes Governor John Carney of Delaware, former Pennsylvania governor Ed Rendell, and the United Steel Workers President Leo Gerard. The unlikely coalition has come together to protect blue-collar refinery jobs across the nation. The Senator recognizes the danger Renewable Identification Numbers of the Renewable Fuel Standard pose to good-paying blue-collar jobs. Too big to fail Wall Street banks have invaded the Renewable Identification Numbers arena and are driving up the price for a product the EPA created out of thin air.

“Already, some refineries have to pay as much for RINs as total employee salaries. Soon the plants will start to shut down and kill those jobs while simultaneously driving up the price of gasoline. Ted Cruz recognizes this and is leading the charge to save jobs and consumers pocketbooks. It is time for the EPA to get out of the RINs business and let the market decide.”

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