Testimony Before the U.S. House Committee onEnergy and Commerce Subcommittee on Environment
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The Center for Agricultural and Rural Development (CARD) conducts innovative public policy and economic research on agricultural, environmental, and food issues. CARD uniquely combines academic excellence with engagement and anticipatory thinking to inform and benefit society.
CARD researchers develop and apply economic theory, quantitative methods, and interdisciplinary approaches to create relevant knowledge. Communication efforts target state and federal policymakers; the research community; agricultural, food, and environmental groups; individual decision-makers; and international audiences.
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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.