World Perspectives
biofuel energy

Shorting Markets and RIN Fraud

Shorting the Market The Thai Ministry of Commerce is reportedly assembling its ASEAN counterparts to negotiate the creation of a trading cartel in rice. Apparently the government's rice mortgage scheme has worked as planned and spiked the price of rice, but that has caused exports to plunge as neighboring rice producers happily take advantage of Thailand's sudden uncompetitiveness. Bangkok's answer is for everyone to collectively stiff the consumer, which would likely bring benefit to rice producers not part of the cartel. It is all an old and familiar dance to try and undermine the market. RINs When the petroleum refining industry bought fraudulent Renewable Identification Numbers (RINs) from biodiesel suppliers registered under the E...

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