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…
05.01.2024
Renewable diesel tops petroleum diesel as CA’s most blended diesel fuel in 2023
The consumption of renewable diesel (RD) in California reached a new milestone in 2023, with RD blending surpassing that of petroleum diesel for the first time. Data released on...
05.01.2024
Distillers’ corn oil production moves higher
Four cars of technical tallow traded lower on Wednesday May 1, down to 47 cents per lb Chicago basis.
Used cooking oil (UCO) and yellow grease traded...
05.01.2024
Animal protein prices steady amid avian flu outbreak
US animal protein prices were steady or up on Wednesday May 1 amid limited reported trade, with multiple market participants attending the Petfood Forum in Kansas City, Missouri, this...