Imports of renewable diesel are up 29 percent
The United States imported near-record volumes of renewable diesel fuel in each of the first five months of this year, averaging 30,000 barrels a day, said the Energy Information Administration. The imports, which were 29 percent higher than in the same period in 2023, came from one producer, Neste, and were shipped almost wholly to the West Coast.
Rivals trim soy oil’s lead among biomass-based diesel feedstocks
With the explosion in production of renewable diesel, yellow grease and corn oil are cutting into soybean oil's position as the dominant feedstock for biomass-based diesel fuel, said three agricultural economists.
More biodiesel plants may close in 2024, says ag analyst
Production of biodiesel, the original renewable fuel made from soybean oil, is being squeezed by the boom in renewable diesel, wrote agricultural economist Scott Irwin on Tuesday. "If the losses in 2024 to date continue, more biodiesel plant shutdowns may be in the offing," he said on the farmdoc daily blog.
Serious oversupply looms for renewable diesel
The boom in renewable diesel is driving U.S. production capacity far above the market for the fuel, said agricultural economist Scott Irwin of the University of Illinois on Thursday. “It’s going to be a very ugly 2024” for refiners, said Irwin during a webinar.
U.S. crop sector insulates itself from world market with biofuels, says analyst
After decades of pursuing sales to foreign buyers, the U.S. crop sector is “once again becoming domestic market-focused, due mainly to biofuels policy,” said Scott Irwin, an agricultural economist at the University of Illinois, on Wednesday. It would be a significant, albeit gradual, change in focus.
World’s first ethanol-to-SAF facility opens
Sustainable fuels producer LanzaJet officially opened the first ethanol-to-sustainable aviation fuel (SAF) refinery in the world in southeastern Georgia on Wednesday. The Freedom Pines Fuels plant, which will be able to produce 10 million gallons of SAF and renewable diesel annually, has buyers lined up for its fuel for the next 10 years, said an aviation news site.
Soybean oil rapidly gaining ground as renewable diesel feedstock
The skyrocketing growth in the production of renewable diesel has been accompanied by a dramatic expansion of soybean oil as a feedstock for the fuel, said three University of Illinois agricultural economists on Wednesday. Soybean oil’s share of the feedstock market has tripled in the past few years, to 27.4 percent.
House GOP grants reprieve to biofuel credits in debt bill
In the hours ahead of a roll call on their debt limit bill, House Republican leaders relented on a proposal to eliminate tax credits for biodiesel, renewable diesel, and second-generation biofuels. They proceeded with a repeal of the $1.25-a-gallon credit for sustainable aviation fuel that was created last summer as part of the climate, health, and tax bill.
Sustainable aviation fuel is among GOP targets in budget bill
House Republicans would eliminate several tax credits for the biofuels industry, including the $1.25-a-gallon credit for sustainable aviation fuel, in the budget bill that could be put to a vote next week. The package also would eliminate incentives created in the 2022 climate, health, and tax bill for biomass-based diesel fuel and second-generation biofuels.
Renewable diesel boom is bane of bakers
Bakers are experiencing a "soybean oil supply crisis" of soaring prices and limited availability due in part to the land rush of investors into renewable diesel fuel, said an Ohio baking executive on Wednesday. Soy oil is a key ingredient in baked goods as well as the feedstock for making renewable diesel.
Renewable diesel boom is wild card for U.S. soybeans
Thanks to a rush in investment, the renewable diesel industry is in a building boom in the United States and abroad "that is very comparable, I believe, to the ethanol boom of the mid-2000s," said economist Scott Irwin of the University of Illinois on Thursday.