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Jennings: Any RIN cap is “A non-starter”

The CEO of the American Coalition for Ethanol Brian Jennings says the industry will not support any proposal that caps Renewable Identification Numbers, or RIN prices.  “A RIN cap of a dime, of twenty cents, of forty cents, I don’t care what value you attach to it, is a non-starter.”

The EPA tried and failed to change key parts of the Renewable fuel standard, and Jennings says any compromise to satisfy the petroleum industry would be against the law.  “The court has tied EPA’s hands with respect to how they can waive the RFS, and we feel incredibly confident that a RIN cap, no matter what value it’s priced at, would violate the statute.”

And, Jennings says if any cap is placed on RIN’s, “We’re prepared to join many others in taking any RIN cap proposals to court, and we are equally confident we will win.”

Jennings made his comments during a Friday press conference with ethanol blenders and wholesalers.

A meeting was planned at the White House to discuss the issue Monday but was called off late Friday.