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Gold/Mining/Energy : Big Dog's Boom Boom Room

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LoneClone
To: Dennis Roth who wrote (180874)10/14/2013 6:30:11 AM
From: Dennis Roth2 Recommendations  Read Replies (2) of 206325
 
US Independent Refiners
RINs Trial Balloon; Don't Count on a Zero RIN
11 October 2013 Report-30 (656.95KB)

Bottom Line: Reports that the EPA would reduce the 1st generation ethanol
mandate (plus LLS-Brent, Midland diffs widening) drove a short covering
rally in the refiner space. Clearly there is a fluid situation in Washington.
However, we would caution that a leaked draft may not represent the final
outcome. Inside, we show the ethanol industry response. It jives with our
understanding of the EPA’s release back in August. We think the EPA has
tools to reduce the pressure but not eliminate RINS without legislative action.
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