Why Did A Train Carrying Biofuel Cross The Border 24 Times And Never Unload?
Submitted by Tyler Durden on 01/02/2013 - 16:49
Wondering why rail traffic has been somewhat surprisingly consistent despite uncertainty? Concerned at government's tenticular reach into each and every aspect of our lives? This somewhat stunning anecdotal report from OilPrice.com might shed some light:
A cargo train filled with biofuels crossed the border between the US and Canada 24 times between the 15th of June and the 28th of June 2010; not once did it unload its cargo, yet it still earned millions of dollars... The companies “made several million dollars importing and exporting the fuel to exploit a loophole in a U.S. green energy program.” Each time the loaded train crossed the border the cargo earned its owner a certain amount of Renewable Identification Numbers (RINs), which were awarded by the US EPA to “promote and track production and importation of renewable fuels such as ethanol and biodiesel.”
We suggest this is merely yet another unintended consequence (just as we noted here) and perverted incentive of central planning and an all encroaching government.
