Burke joins RINAlliance board

By | November 17, 2010
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The RINAlliance, a web-based renewable fuel compliance service, has added "the Godfather of biodiesel in the Northeast," Ed Burke, to its board of directors. Burke, the Chairman of Dennis K. Burke Inc, a Chelsea, Mass.-based fuel distributor of diesel, biodiesel and E85, said his new role is good for the RINAlliance due to geographical diversity. "I'm a good number to have for people that need the services of RINAlliance who are geographically far away from Iowa," he said.

The President of the Petroleum Marketers and Convenience Stores of Iowa, and a developer of the RINAlliance, Dawn Carlson, called the addition an honor, citing Burke's enthusiasm and leadership skills. Burke has spoken across the country on the intricacies of marketing biodiesel and was the first to bring biodiesel to the commonwealth of Massachusetts. He believes he is joining a phenomenal outfit. "When I first met them (RINAlliance)," he said, "I said if they were a public company I would buy stock."

As part of the board, Burke expects to perform "normal" activities that he said will initially include discussing buying RINs on a forward basis, and whether or not the company will do that in the future. "Ed Burke understands what complicated government regulations can do to a business," said Jeff Hove, vice president of the company. As for the complicated tax incentive situation, Burke feels in some cases the current value of biodiesel RINs may offset the lack of the tax credit. While he does not remain optimistic about a renewal of the credit, he did say there might be other alternatives, one of which was based on a similar credit deduction currently being discussed in the ethanol industry. "Why doesn't someone pose the question, 'Would 50 cents work?'?"
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