The companies maintain that this practice was legal. Another company, Northern Biodiesel, appears to have been put out of business by the practice.
The EPA has investigated several other cases of RIN fraud, including one against Jeffrey David Gunselman, the CEO of Absolute Fuels who was arrested in July, accused of selling more than $50 million in fake RIN credits.
So yeah, keep telling yourself that this is another case of the dum dum gubmint who needs to stay out of our way and how no one ever goes bankrupt after defrauding the gubmint because I mean, it all sounded great when Rush said it right?
I don't understand what you are saying (aside from trolling, which is heavily frowned upon). It reads to me like the government is either creating perverse incentives, failing to implement correctly or failing to monitor. If it is the first, we'd be better off without the interference. If it is the second, what is wrong with the government that it can't implement it's policies correctly (perhaps too complex)? If it is the last, then why is the government not policing the policies better?
And finally, do RIN credits provide better incentives than no credits? That is the real question that should be asked with regard to the government being involved. The government's track-record isn't great.
The assumption that this is a legal loophole is mistaken.
"It reads to me like the government is either creating perverse incentives, failing to implement correctly or failing to monitor"
Because someone committed fraud and they're now being investigated for fraud by the government?
"If it is the first, we'd be better off without the interference"
If only we were omniscient and knew which incentives were perverse.
"If it is the second, what is wrong with the government that it can't implement it's policies correctly (perhaps too complex)?"
If only the government could always put it's policies into effect perfectly like the free market. Wait, what?
"If it is the last, then why is the government not policing the policies better?"
Because justice isn't instant? Because 30+ years of one party pushing deregulation takes it's toll? It sounds like your solution to the latter is more deregulation.
"And finally, do RIN credits provide better incentives than no credits? That is the real question that should be asked with regard to the government being involved."
If only there were some way for the public to comment on future government rules.
"The government's track-record isn't great."
The track record for successful modern societies without pesky governments is stunningly less great.
The companies maintain that this practice was legal. Another company, Northern Biodiesel, appears to have been put out of business by the practice.
The EPA has investigated several other cases of RIN fraud, including one against Jeffrey David Gunselman, the CEO of Absolute Fuels who was arrested in July, accused of selling more than $50 million in fake RIN credits.
So yeah, keep telling yourself that this is another case of the dum dum gubmint who needs to stay out of our way and how no one ever goes bankrupt after defrauding the gubmint because I mean, it all sounded great when Rush said it right?