Testimony Before the U.S. House Committee on Energy and Commerce Subcommittee on Environment
Gabriel E. Lade
July 2018 [18-PB 24]
Suggested citation:
Lade, G.E. 2018. "Testimony Before the U.S. House Committee on Energy and Commerce Subcommittee on Environment." Policy brief 18-PB 24. Center for Agricultural and Rural Development, Iowa State University.
Executive Summary
My testimony focuses on the purpose and operation of Renewable Identification Numbers, better known as RINs, as the compliance mechanism for meeting the Renewable Fuel Standard (RFS) mandates. In particular, my remarks emphasize RINs' accounting and economic role under the RFS, as well as summarize the empirical evidence on RIN price determinants and their impact on downstream fuel prices. I also address the potential effects of certain proposed changes to the RFS on RIN prices, and their implications for future biofuel use in the United States.