05.17.2024
Uncertainty with 45z tax credit may affect Q1 2025 biofuel contracts
The expiring BTC provides a one dollar per gallon blenders credit up front with an additional 30 to 40 cents of credit to producers on the backend. Crimson...
Renewable Diesel Capacity Expected Increase Sharply by 2022
There was just over 500 million gallons of US renewable diesel capacity in 2020. That figure does not include co-processing, which would elevate capacity to 567.3 million gallons. The amount of biodiesel capacity, per the EIA, was 2.394 billion gallons. Biodiesel capacity has always dwarfed that of renewable diesel, but with oil companies and others looking to take advantage of margin opportunities, things may soon change.
Existing renewable diesel capacity has increased to 662.6 million gallon in 2021, with a probability adjusted addition of 71.6 million gallons of “planned/under construction” projects coming online this year or expected to come online, plus Marathon’s Dickinson ND plant reaching full capacity this year. Renewable diesel capacity, including co-processing, is…