The latest Energy Information Administration (EIA) Short-Term-Energy Outlook (STEO) lowers the bar on gasoline and diesel consumption. This in turn leads to less renewable fuel needed to satisfy the mandated requirements. The percentage standards for required renewable fuel have not changed, just the volume needed to achieve the mandated requirement.
The EPA Final Rule for 2020 is based on percentage not volume. Volumes are projected based on EIA fuel estimates but those estimates get reconciled with actual gasoline and consumption totals following the end of the year. For 2020, EIA originally estimated 142.68 billion gallons of gasoline and 55.30 billion gallons of diesel to be consumed.
These estimates were created prior to the pandemic. Since that time, EIA has lowered their gasoline and diesel estimates to…
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...