WASHINGTON, March 27 The recent surge in prices
for U.S. ethanol credits known as RINs is due to speculation,
said the top-ranking Republican on the Senate Judiciary
Committee on Wednesday.
Iowa Sen Chuck Grassley said he had "just one word -
speculation," when reporters asked about the price explosion and
congressional information-gathering on the subject. "That's
quite a rise (in prices). It doesn't seem to me that's the
marketplace," said Grassley.
Grassley suggested regulators, such as the Commodity Futures
Trading Commission, should look into the issue. Grassley's home
state of Iowa is No 1 in corn production and in ethanol