The Energy Information Administration’s (EIA) Short Term Energy Outlook (STEO) showed a decrease in 2024 fuel consumption estimates. This lowered renewable fuel blending estimates for the year, leading to a potentially larger surplus of renewable identification numbers (RINs).
The Renewable Fuel Standard (RFS) renewable volume obligations (RVOs) issued by the Environmental Protection Agency (EPA) provide percentage standards applied to the initial mandated forecast at that time of release.
The percentage standards translate into volumes based on the estimated consumption forecast. The actual RVOs become known over time but use the same percentage standards applied to the original mandate, which created the initial volume expectations.
The original RVO forecast called for 21.54 billion gallons of renewable fuel to be blended into the US transportation fuel pool.
…
11.21.2024
Domestic US biodiesel blending helps lift October RFS RIN production
US domestic biodiesel blending of 147.5 million gallons in October produced a monthly high of 221.2 million renewable identification number (RIN) credits for January-October. This was 11.5% above September...
11.21.2024
CWG trades lower as broader animal fats markets hold steady
The US animal fats and oils markets held steady on Thursday November 21, with limited trading as attention shifted toward broader macroeconomic factors and...
11.21.2024
October commercial cattle, hog production above 2023
US animal protein prices were steady on Thursday November 21. Limited trade was reported from market sources due to the proximity of the extended Thanksgiving holiday weekend in the...