Earnings News
PBF on RVOs and RINs
“High RIN prices do not increase ethanol consumption. Simply put, the facts show that high RIN prices did not get the ethanol industry past the blend wall. Therefore, the program operates with an insurmountable annual shortfall. Now we come to the point where if the program does not get fixed, it actually breaks.”
The market is more than halfway through the year without Renewable Volume Obligations (RVO) in place. PBF believes that if the RVO percentages are held constant in 2021, the RIN bank could become depleted, potentially by the end of the year.
PBF President, Matt Lucey, “RINs are effectively permits to sell gasoline. If not enough RINs are available to meet the mandate, refiners will be forced to sell domestic ethylene…
04.18.2024
Total RFS blending falls in March, domestic biodiesel blending increases
The Environmental Protection Agency (EPA) reported 1.66 billion gallons of renewable fuel blended within the nation’s transportation fuel pool during March. Blending was six percent below February and...
04.18.2024
EU UCO premium to US continues to grow
The US animal fats and oils market was mostly quiet on Thursday April 18, with a handful of price changes reported. Choice white grease (CWG) into the Missouri River...
04.18.2024
Ruminant meat and bonemeal price pressure in most regions
Price pressure was reported on several regions for meat and bone meal, ruminant and porcine items. Market sources said buyer pushback and light demand, with exception to the pet...