Sen. Roger Marshall, R-Kan.
June 24, 2024
BY Erin Voegele
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The USDA reduced its forecast for 2024-’25 soybean oil use in biofuel production in its latest World Agricultural Supply and Demand Estimates report, released March 11. The outlook for soybean oil price was unchanged.
Despite the challenges it currently faces, the bio-based diesel industry is building on its successes and is ready to battle.
The U.S. EPA on March 7 announced it will extend the compliance year 2024 Renewable Fuel Standard reporting deadline and signaled its intent to revise the 2024 RFS renewable volume obligation (RVO) for cellulosic biofuel.
Whether 45Z can be the motivating factor to help incentivize that growth for the SAF industry still remains to be seen and is clouded by uncertainty—just like its rollout.
A group of 70-plus stakeholders in the e-SAF industry are encouraging EU officials to implement five policy changes to encourage e-SAF development. The suggested changes aim to overcome investor barriers and accelerate progress.