Biofuel Credit Prices Surge As The White House Hemorrhages Political Capital

By Tristan R. Brown, via Seeking Alpha.

Renewable Identification Numbers have rebounded strongly since early May, making it likely that merchant refiners' reported RIN expenditures in Q2 will be higher than originally expected.

The rise in RIN prices has coincided with the Trump administration's weakening political position, with some of the largest daily increases following news of branching investigations into White House activities.

Whereas RIN prices fell sharply following the election on the expectation that Carl Icahn would overhaul the RFS2 as regulatory reform czar, investors now believe that the changes won't happen.

Read more...