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 Consumption Hits Monthly All-Time High in October
The Environmental Protection Agency (EPA) reported 1.53 billion gallons of renewable fuel consumed during October, 4.2 percent above September and 8.7 percent above October 2020. Renewable Fuel Standard (RFS) credit generation of 1.7 billion RINs was 4.7 percent over September generation and nine percent above October 2020. Increased biomass-based diesel (D4) and ethanol (D6) production contributed significantly to the month over month growth.
October biomass-based diesel (D4) consumption of 266.1 million gallons was nine percent over September and 24 percent above October 2020. Biodiesel use increased 3.8 percent and renewable diesel consumption increased 13.3 percent. Renewable jet fuel saw a 46 percent rise in usage during October. Compared to last year, October biodiesel consumption was down 4.6 percent, renewable diesel was up 104 percent, and renewable jet fuel…