Showing posts from July, 2012

Big Oil's Stolen 35 Minutes

By Ronald H. Miller

A recent article entitled "Clean Green Scam" highlighted the case of Rodney Hailey whose company sold approximately $9 million worth of fraudulent biodiesel credits to the oil industry. Petroleum companies need those credits to show compliance with the national Renewable Fuels Standard. Mr. Hailey was convicted of 42 counts of fraud, money laundering and other charges and will likely spend several years as a guest of the federal government. Justice was served, right? Not so, stated the article. What about the innocent victims, in other words "Big Oil"?

The focus of the article was on "Washington's torrid 40-year love affair with the ethanol lobby".
The "victims" not only paid $9 million for bad biodiesel (not ethanol) credits but also were fined by
the EPA for not conducting proper due diligence to make sure the credits were legit. This cost Big Oil
another $40 million. In fact the article went on to say, "Refiners h…