Renewable Fuel Concerns Answered by Private Sector Nationwide Registry
American entrepreneurs and business leaders answer Senate's Energy and Natural Resources Committee concerns about an increased renewable fuel standard and the resulting challenges through the formation of the Nation's renewable fuel registry.
Taos, NM (PRWEB) February 7, 2008 – American entrepreneurs and businesses take the lead while Senate members consider what might happen with future renewable fuel markets. As the Senate Committee on Energy and Natural Resources questioned the effects of the enhanced Renewable Fuels Standard (RFS) on energy markets today, industry participants are marching ahead with business as usual in the free market sector. A testament to the ingenuity of the American entrepreneur is the formation of the Nation’s renewable fuel registry.
Active since the first day of the original RFS, September 1, 2007, the RINSTAR™ renewable fuel registry has served hundreds of operating companies across America and grows exponentially each month. A total of 78,021 individual transactions have been conducted on the registry to date, transferring renewable fuel and the associated RINs through its database at www.RINregister.com.
A RIN (Renewable Identification Number) is the 38-digit serial number assigned to each gallon of renewable fuel under EPA’s RFS regulations. The RIN is tracked throughout the supply chain on the registry as it is passed from one party to the next. Participants on the registry are also able to validate their RINs against all others, insuring that the RINs are marketable for credit trading purposes and that maximum efficiency is achieved in the marketplace.
“Participants on the RINSTAR™ Renewable Fuel Registry bring the highest level of confidence to the marketplace when it comes to transferring renewable fuel and credits”, says Clayton McMartin, president, Clean Fuels Clearinghouse. “Our members proactively validate their RINs against all others on the registry before accepting title from their suppliers, saving future audit headaches and costly fines for both them and their customers.” Just 5 months into the RFS, the RINSTAR™ registry has processed over 921,829,207 individual gallon-RINs for its membership through its patent pending validation processes.
With congressional concerns focused on the aggressive future of renewable fuels, American ingenuity has once again answered the call and is delivering the solution today.
The Clean Fuels Clearinghouse is an independent company, not directed by any trade or political organization, and is uniquely positioned to provide a system wide renewable fuel validation and implementation platform. For more information, visit them on the web at www.RINregister.com.
Contact:
Shelly Judd
(575) 377-3369
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