On the recordFebruary 7, 2018
Mr. President, I thank my colleague who spoke very highly of the qualifications of Mr. Northey to be Under Secretary at the Department of Agriculture. I may say just a little bit about his qualifications, but I want to spend most of my time expressing my thoughts to my colleagues in the Senate, and to Senator Cruz primarily, on what I think about the argument over RINs being an impediment to some refineries operating efficiently, going into bankruptcy, or other problems they have. Senator Cruz has said there are some things that could be put together to help this situation. I will name three of them that I think would work, and then I will say why I disagree with the Senator from Texas about the RINs issue and why he thinks that is a solution to it and why I feel it is not a solution to it. First of all, my colleague from Texas said there is a problem with Wall Street speculators. I don't know whether that happens every day, but it happens sometimes, and it is something that should be taken care of. I recognized that back in November of 2013, when I wrote a letter on that very subject urging the regulators to take a position on that. I think greater transparency of this whole market would be very good as well. I think that is a possibility. That is something the Senator and I have discussed as being very helpful, the EPA putting out regulations on vapor so we could get more ethanol in the percentage of E15.…