Northern Tier Energy LP (NTI)

[pete807]

I think the comments referring to Renewables or RINs (rents? bad transcription?) were part of the March 14 CC discussing Q4 2012. Here is that part:

The last topic I want to touch on is the recent news around refiners meeting obligation related to renewable fuel standard. There is a concern that the rising price of ethanol rents will negatively impact refiner earnings. Our rent obligations are partially mitigated due to the level of our ethanol blending and due to carryover of some rents from the prior year.

However, we do anticipate that we will need to acquire somewhere between $25 million to $35 million additional rents due to blend wall limitation. Our view at this point is that the refined product market prices will expand to a level to mitigate much of the rising rent prices we are seeing. While we are monitoring this, we do not see this as a significant headwind specific to our business in 2013.

Johnsyn posted the transcript which is no longer available on the web site...
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