11.22.2024
Biodiesel margins rise, but window of opportunity limited
Biodiesel margins continued to rise during the week to Friday November 22. The bean oil/heating oil (BOHO) spread boosted margins by falling to its lowest level since August 27.
This is the third year Washington state attempts to pass their Clean Fuels Program. Legislation passed the House 52 to 46 on Feb 27 and moved to the Senate. On March 16, the Senate Committee on Environment, Energy and Technology recommended the measure should pass with amendment(s). It was referred to the Ways and Means committee on March 17.
Rep. Joe Fitzgibbons maneuvered the bill to bypass Hobbs Senate Transportation Committee this time around, which give the Clean Fuel Standard a much better chance of passing this year. In the previous two years the measure has not made it out of Senator Hobbs transportation committee. In an earlier article it was stated that Rep. Joe Fitzgibbon, the three-time sponsor of the legislation was emphatic that Hobbs will not be in a position to block its path for a third time. Fitzgibbon was able to bypass the…