Renewable Identification Numbers (RINs) are credits used to certify compliance with the Renewable Fuel Standard (RFS), which requires certain minimum volumes of biofuels to be blended into fuels sold in the U.S. There are many types of fuels covered by the RFS and so RIN credits come in different categories. One category, the D6 RIN, applies to the blending of corn-based ethanol into refined gasoline to make the gasoline-ethanol blends we pump into our cars, SUVs and pickups. In 2013, the D6 RIN price skyrocketed 100-fold in one of the most extreme cases of panic buying in any major commodity market in history. In today’s RBN blog, we examine that event and address three key questions: How did it happen, what was the solution, and why does it matter today?
The Future of Fuels bi-annual report by RBN's Refined Fuels Analytics provides an in-depth analysis of the U.S. and global refinery industries, focusing on crude oil and fuel market dynamics, supply and demand, alternative fuels, refinery capacities, and price forecasts to help stakeholders navigate the evolving energy landscape.
We have been tracking the “magical mystery” of RINs since 2012, most recently with our four-part Misunderstanding series. Those blogs cover a lot of ground because the RIN credit system is important, complex and confusing. Fortunately, most of our focus today is on just one type of RIN, the D6 — the most basic RIN and the one with the highest volume mandate — during a narrow time window. Our story begins in February 2013, when the D6 RIN price rocketed higher, as shown in Figure 1 below.
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About the song
“The Big Bang Theory Theme” was written by Ed Robertson and appears as the 13th track on Barenaked Ladies’ third compilation album, Hits from Yesterday & the Day Before. The song was written by Ed Robertson after he was approached by Chuck Lorre and Bill Prady, producers of the TV sitcom “The Big Bang Theory.” They had seen Robertson do a freestyle rap about the origins of the universe at a Barenaked Ladies concert in Los Angeles and thought he was the perfect candidate to write the theme song for their show. The song ended up being played after every opening of the series for its whole 12-year run. It was released as a single in October 2007. In September 2015, band member and co-founder Steven Page sued Robertson, alleging that he wrote 20% of the song and Robertson had kept all the royalties. The case was later settled out of court. Personnel on the record were: Ed Robertson (lead vocals, guitars), Steven Page (guitars, backing vocals), Jim Creegan (bass, backing vocals), Tyler Stewart (drums), and Kevin Hearn (keyboards, backing vocals).
Hits from Yesterday & the Day Before is a greatest hits collection that includes several singles released from Barenaked Ladies between 1997-2010. It was released by Rhino Records in September 2011.
“The Big Bang Theory” was an American hit television sitcom that ran on CBS from September 2007 to May 2019. The show starred Johnny Galecki, Jim Parsons, Kaley Cuoco, Simon Helberg, Kunal Nayyar and Sara Gilbert.
Barenaked Ladies is a Canadian rock band formed in Scarborough, ON, in 1988. They started as a duo with Ed Robertson and Steven Page. By 1990 they had expanded into a quartet. The band has released 13 studio albums, three live albums, four compilation albums, four EPs, and 41 singles and has sold more than 15 million records worldwide. Co-founder Steven Page left the band in 2009. They have had six members since their inception. The band has won two Billboard Music Awards and one World Music Award and are members of the Canadian Music Hall of Fame. Barenaked Ladies continues to record and tour.
