The Nations Renewable Fuel Standard requires billions of gallons of renewable fuel to blended with gasoline and diesel within the transportation sector each year. Obligated parties can either choose to blend renewable fuels in with the fuel they produce, or purchase RINs on the open Market.
A renewable identification number (RIN) is used for compliance and is the “currency” of the RFS program. Three large, obligated parties have taken the position of “betting” on the RIN market over the past two years, banking on the prospect of lower RIN Prices in the future. Over this time, compliance obligations to ballooned to $2.3 million at the end of the third quarter in 2021.
Fourth quarter financial reporting shows PBF Energy and Delta Air Lines worked to reduce their debt, while CVR Energy added to theirs. All three companies were hoping RIN…
12.20.2024
45z guidance fails to appear; government scrambles to pass spending bill
The US government spending bill failed twice in as many days. If a deal is not reached by midnight on Friday December 20, some federal services will...
12.20.2024
US animal fats and oils end week softer across the board ahead of holiday slowdown
Prices for US animal fats and oils ended the week on a lower note on Friday December 20, with most markets trending downward ahead of the upcoming holiday week,...
12.20.2024
December cattle on feed down on month, year
Most US animal protein prices were rangebound for the week, though in wider ranges due to the impending Christmas and New Year's holiday closures.
The only significant price...