Labor Leaders Ask Biden to Waive RFS Ethanol Mandate to Preserve Refinery Infrastructure Jobs
Labor leaders are pressing the Biden administration to waive renewable fuel blending mandates under the RFS in response to requests from governors, mayors and others to take immediate action.
In a letter to the President, labor union leaders requested urgent action to “reduce the skyrocketing cost” of biofuel blending credits (RINs) “and preserve American union jobs.” According to union leaders, the high-cost U.S. refiners must pay for RINs, particularly ethanol credits, siphons off money for refinery upgrade projects that typically employ thousands of union workers.
The price of RINs has more than doubled since the start of the hitting an all- time high of $1.97, according to RIN markets analysts. The biofuel industry opposes any reduction in blending mandates under the RFS and say refiners can avoid the high cost of RINs by investing in more blending infrastructure to generate their own RINs.