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As the United States works to use more clean energy, companies that make or import gasoline or diesel are required to use a certain amount of renewable fuel. If they don’t, there’s another way to meet the mandate: They can buy credits that represent renewable fuel another company has made. Those credits are called renewable identification numbers — or RINs.
It’s all about incentives to boost production of renewable fuel. Companies can buy the credits even if they don’t buy the fuel — which still will be consumed in the United States.
But allegations against Hailey’s company, and another Texas company that also sold those credits, have exposed opportunities for fraud in the system, some in Congress say.
“We need to make sure that EPA is doing its job,” Rep. Ed Whitfield (R-Ky.), chairman of a House Energy and Commerce subcommittee, said in a statement. “That means addressing problems like RIN fraud before they get further out of hand and cause significant damage.”
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