At a House Energy and Commerce Subcommittee on Oversight and Investigations hearing July 11, industry representatives said that biodiesel producers are developing their own auditing and verification program after the Environmental Protection Agency identified millions of fake renewable fuel credits on the market. At the same time, the agency must revise the renewable fuel program regulations to provide more protection for petroleum refiners and others that unknowingly purchased the fraudulent renewable identification numbers. The industry’s two-step verification program includes independent auditors to ensure that biodiesel facilities produce renewable fuels, and a requirement that producers install onsite monitoring equipment to provide live data to industries required to purchase the credits. The agency reached settlements with 30 companies in April that were participating in the program; they agreed to pay $3.65 million in penalties.
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RIN fraud and oversight
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