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...
First Quarter 2023 Imports of 200 Million Gallons Reaches Record Amount
The United States imported over 200 million gallons of biodiesel and renewable diesel during the first quarter of 2023 according to data released from the U.S. Energy Information Administration. This was a record for Q1 imports, exceeding the prior quarterly high of 136.8 million gallons set in 2021 by 46 percent. Combined imports of biodiesel and renewable diesel were 13 percent above Q4 imports of 177.4 million gallons and 77 percent over the 113 million gallons imported during Q1 2022.
Biodiesel imports soared during the first quarter, reaching a record high of 117.5 million gallons. Q1 imports were 144 percent above Q1 2022 and 16 percent over the 101.3 million gallons received during Q4…