CFTC Urged To Probe Renewable Fuel Credit Manipulation

Law360, New York (September 24, 2013, 3:18 PM EDT) -- The chairwoman of the U.S. Senate Committee on Agriculture, Nutrition and Forestry on Tuesday urged the U.S. Commodity Futures Trading Commission to probe allegations of manipulation in the market for renewable fuel credits, suggesting that it may be the cause of recent price spikes.

The credits, known as Renewable Identification Numbers, are used by petroleum blenders and refiners meet their requirements under the U.S. Environmental Protection Agency's Renewable Fuels Standard program, known as RFS2. The RIN market is unregulated and Sen. Debbie Stabenow, D-Mich., wants the...
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