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Testimony Before the U.S. House Committee on Energy and Commerce Subcommittee on Environment

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  • Gabriel E. Lade

Abstract

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.

Suggested Citation

  • Gabriel E. Lade, 2018. "Testimony Before the U.S. House Committee on Energy and Commerce Subcommittee on Environment," Center for Agricultural and Rural Development (CARD) Publications 18-pb24, Center for Agricultural and Rural Development (CARD) at Iowa State University.
    • Handle: RePEc:ias:cpaper:18-pb24
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    References listed on IDEAS

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    1. Richard Schmalensee & Robert N. Stavins, 2017. "Lessons Learned from Three Decades of Experience with Cap and Trade," Review of Environmental Economics and Policy, Association of Environmental and Resource Economists, vol. 11(1), pages 59-79.
    2. Pouliot, Sébastien & Babcock, Bruce A., 2017. "Feasibility of meeting increased biofuel mandates with E85," Energy Policy, Elsevier, vol. 101(C), pages 194-200.
    3. Wojciech Kopczuk & Justin Marion & Erich Muehlegger & Joel Slemrod, 2016. "Does Tax-Collection Invariance Hold? Evasion and the Pass-Through of State Diesel Taxes," American Economic Journal: Economic Policy, American Economic Association, vol. 8(2), pages 251-286, May.
    4. Sébastien Pouliot & Kenneth A Liao & Bruce A Babcock, 2018. "Estimating Willingness to Pay for E85 in the United States Using an Intercept Survey of Flex Motorists," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 100(5), pages 1486-1509.
    5. Gabriel E Lade & C -Y Cynthia Lin Lawell & Aaron Smith, 2018. "Policy Shocks and Market-Based Regulations: Evidence from the Renewable Fuel Standard," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 100(3), pages 707-731.
    6. Gabriel E. Lade & Sebastien Pouliot & Bruce A. Babcock, 2018. "E15 and E85 Demand Under RIN Price Caps and an RVP Waiver," Center for Agricultural and Rural Development (CARD) Publications 18-pb21, Center for Agricultural and Rural Development (CARD) at Iowa State University.
    7. Gabriel E Lade & C-Y Cynthia Lin Lawell & Aaron Smith, 2018. "Designing Climate Policy: Lessons from the Renewable Fuel Standard and the Blend Wall," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 100(2), pages 585-599.
    8. Gabriel E. Lade & James Bushnell, 2019. "Fuel Subsidy Pass-Through and Market Structure: Evidence from the Renewable Fuel Standard," Journal of the Association of Environmental and Resource Economists, University of Chicago Press, vol. 6(3), pages 563-592.
    9. Bruce A. Babcock & Gabriel E. Lade & Sebastien Pouliot, 2016. "Impact on Merchant Refiners and Blenders from Changing the RFS Point of Obligation," Center for Agricultural and Rural Development (CARD) Publications 16-pb20, Center for Agricultural and Rural Development (CARD) at Iowa State University.
    10. Fama, Eugene F, 1970. "Efficient Capital Markets: A Review of Theory and Empirical Work," Journal of Finance, American Finance Association, vol. 25(2), pages 383-417, May.
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    Cited by:

    1. Gabriel E. Lade, 2019. "E15 Demand and Small Refinery Waivers: A Battle over Long-Run Market Share," Center for Agricultural and Rural Development (CARD) Publications apr-fall-2019-5, Center for Agricultural and Rural Development (CARD) at Iowa State University.
    2. Chad Hart & Lee L. Schulz, 2019. "Production Projections and Trade Adjustments," Center for Agricultural and Rural Development (CARD) Publications apr-fall-2019-2, Center for Agricultural and Rural Development (CARD) at Iowa State University.
    3. John M. Crespi & Chen-Ti Chen, 2019. "Global Competition Made 2018 a Bad Time to Start a Trade War," Center for Agricultural and Rural Development (CARD) Publications apr-fall-2019-1, Center for Agricultural and Rural Development (CARD) at Iowa State University.
    4. Miguel Carriquiry & Amani Elobeid & Dermot J. Hayes & Wendong Zhang, 2019. "Impact of African Swine Fever on US and World Commodity Markets," Center for Agricultural and Rural Development (CARD) Publications apr-fall-2019-4, Center for Agricultural and Rural Development (CARD) at Iowa State University.
    5. Chris Jones & Philip W. Gassman & Keith E. Schilling, 2019. "The Urgent Need to Address Nutrient Imbalance Problems in Iowa's High-Density Livestock Regions," Center for Agricultural and Rural Development (CARD) Publications apr-fall-2019-3, Center for Agricultural and Rural Development (CARD) at Iowa State University.

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