No Bull | Halfway There

March 3

Halfway to the Moon

(with no signs of stopping)

Rewind two years and renewable diesel was hardly on the map. In fact, EIA did not begin reporting operable production capacity in the US until January 2021.

Nineteen months later, US biofuels hit a milestone as the production capacity of traditional biodiesel and newcomer renewable diesel were neck and neck - each accounting for 50% of domestic (bio) capacity.

In August of last year, renewable diesel production capacity surpassed that of biodiesel and it hasn’t looked back since.

By the end of 2022, renewable diesel production capacity exceeded traditional biodiesel by 37%, growing 200% on the year.

Over that same 12 months, traditional biodiesel capacity contracted by nearly 10%.

Renewable (so-called “green”) diesel continues to take the country by storm, jumpstarted by California’s Low Carbon Fuel Standard and now propelled further with the Biden Administration’s swift transition to green energy.

Get it all confused? Me too - that’s why I will do a deeper dive into “green” diesel in two weeks as it is transforming domestic soybean consumption right before our eyes - not to fail to mention the fact we are now importing used cooking oil from China as a result.