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 begin shutting down and this could lead to a continued lack of government guidance for the biofuel industry.
Expectations were high for 45z guidance today, but that did not happen. “We did not get the 45z regulation that was supposed to come out today. Instead, it will be sub-regulatory guidance, which means it will not be a final rule. The Trump administration can cancel it on day one, if they want to,” a lobbyist said.
“Headwinds are in fact occurring. If there is a federal government shutdown, the Treasury will delay guidance for the 45z credit,” a second lobbyist told Fastmarkets.
Lack of 45z guidance has many standalone biodiesel producers idling production ahead of the new year, when the 45z credit goes into effect.
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