The US Government Accountability Office (GAO) has stated they will review EPA use of waivers exempting small refineries from the nation’s biofuel blending requirements after a bipartisan group of lawmakers made a review request last August. The renewable fuel standard (RFS) allows the EPA to grant small refinery exemptions (SREs) to refiners that process up to 75,000 barrels of petroleum per day – and can demonstrate “disproportionate economic hardship”. However, biofuel producers and their representatives have accused the Trump administration of overusing the SRE process to benefit oil companies at the expense of agricultural interests.
The use of SREs has more than quadrupled since the Trump administration has entered office. Petitions granted are up 443 percent while petitions received have grown 300 percent.
11.15.2024
October soybean crush reaches all-time monthly high; biofuel demand limits rise in soybean oil stocks
The National Oilseed Processors Association (NOPA) reported the October soybean crush at a record monthly high of 199.9592 million bushels, eclipsing the previous record of 196.406 million bushels set...
11.15.2024
UCO 2025 market clouded by China’s cancellation of export rebate
China will cancel its current 13% export tax rebate for used cooking oil (UCO), a key biofuel feedstock, effective December 1, the country’s Ministry of Finance and the State...
11.15.2024
US animal protein prices steady to firmer week on week; SBM under pressure
The US animal proteins market was steady to higher in the week to Friday November 15. Even with decreases in Chicago Board of Trade (CBOT) soybean meal futures, prices...