Senate Agriculture Commmittee Chairperson Stabenow Calls on CFTC to Review Possible Manipulation of Renewable Fuels Market

Senator Debbie Stabenow (D-MI), Chair of the Senate Agriculture Committee, wrote an open letter to CFTC Chairman Gary Gensler to review what her press release said were recent allegations in press reports as to possible manipulation of the markets for Renewable Identification Numbers ("RINs"). RINs are the primary tracking mechanisms used to ensure that petroleum blenders and refiners meet their requirements under the Renewable Fuels Standard. In her letter, Senator Stabenow noted her concern that a lack of transparency in these markets has made them more susceptible to manipulation. She requested that the CFTC coordinate with the EPA to use its authority to "help preserve integrity in the RINs market" by determining whether factors other than supply and demand have been causing volatility in the market, and to what extent fraud and manipulation have been affecting the price of RINs.The letter from Senator Stabenow did not provide any details as to the allegations.

See: Chairperson Stabenow Letter to CFTC.Related News: Senate Agriculture Committee's Stabenow Calls on "CTFC" to Review Alleged Manipulation of Aluminum Market (with Lofchie Comment) (July 30, 2013).