“Simply put, without immediate safe harbor guidance, the entire biodiesel supply chain could grind to a halt, resulting in lost farm income, laid off workers, unrealized carbon reductions, higher prices for consumers and greater energy imports,” the group of Iowa biodiesel producers said in a letter submitted to the US Treasury Department on Friday September 20.
On January 2, 2025, the CFPC, or 45Z, credit will replace the US blenders’ tax credit (BTC). However, many specifics of the credit still remain unclear, and this has left many producers unable to project their feedstock needs and biodiesel production volumes going forward.
The Iowa Renewable Fuels Association’s letter followed a September 18 meeting between Midwest congressional officials and the Treasury Department, during which the latter did not provide a timeline for finalizing the rule and did not commit to providing any interim safe harbor guidance.
…
10.04.2024
US RD interregional shipments decline to 6-month low in July: EIA
The US Energy Information Administration’s (EIA) Petroleum Supply Monthly report released Monday September 30, showed that July interregional shipments of renewable diesel (RD) and biodiesel to the US West...
10.04.2024
Geopolitical tensions, policy uncertainty stymies US animal fats, oils trade
The Missouri River choice white grease (CWG) market moved to a low of 42.5 cents per lb FOB after trading was done late on Thursday October 3.
Distiller’s...
10.04.2024
Hurricane Helene impact on US animal proteins still unknown
US animal proteins prices were steady on Friday October 4, with most participants working on logistical challenges for the current and upcoming week.
Hog producers and production facilities...