That's what a lot of renewable fuels folks are saying, and now there's new research from Harvard to back it up.
Iowans have an answer for EPA Administrator Scott Pruitt’s question of how to reduce RIN prices associated with the Renewable Fuel Standard – grant E15 the same RVP treatment as all other ethanol-blended fuels.
On January 30th, while Administrator Pruitt was testifying before the U.S. Senate Environmental and Public Works Committee, Iowa Renewable Fuels Summit attendees were signing a letter to the administrator asking him to grant E15 RVP parity.
Recently Pruitt has made public his concerns over the price of RINs. Iowa Renewable Fuels Association Executive Director Monte Shaw said E15 will unlock the solution.
“From Harvard professors to Iowa retailers, the experts agree E15 RVP parity is the fastest way to lower RIN prices,” Shaw said. “It is simple supply and demand. Allowing retailers to blend E15 all year round would flood the market with RINs and reduce the price.”
During his hearing, Pruitt told Iowa Senator Joni Ernst the EPA is in the process of determining if the agency will provide E15 RVP parity.
“I’m hopeful that we’ll have a conclusion on that soon…It’s very important, and we are working to get an answer as soon as we can,” Pruitt said.
A copy of the letter summit attendees signed, and a photo of the signed poster was sent to Pruitt’s office earlier today.