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.
Royal Dutch Shell was ordered by a Dutch court on Wednesday to reduce its carbon emissions 45 percent from 2019 levels by 2030 in a landmark case brought by climate activism groups. The Hague District Court declared Shell is obligated to reduce emissions in line with national climate change standards and that its current efforts were not good enough. The decision is expected to have far reaching consequences for oil companies
The Hague court did not detail how Shell should increase their climate change efforts, leaving the energy giant’s parent company freedom in choosing how to meet the reduction obligation. The ruling is unique in that the judge has basically ordered Shell to fall in line with the Paris Climate agreement. Shell indicated it would appeal the ruling.
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