For today’s update I want to share the presentation I gave at the U.S. Soybean Export Council’s CrushCon event in Dubai earlier this week.
Cause
California’s Low Carbon Fuel Standard
In 2007, California Governor Arnold Schwarzenegger (a Republican, interestingly enough) issued an executive order directing the California Environmental Protection Agency to establish the first low-carbon fuel standard mandate in the world.
Legislates a reduction in the carbon intensity of transportation fuels sold in or supplied to California
Established declining targets for greenhouse emissions through 2030 (-20%)
Spurred a revolution in biomass-based diesel production, specially renewable diesel
If it was a country, California would be the 5th largest economy in the world (soon to overtake Germany as #4), making its legislative decisions notably impactful
Why Renewable Diesel?
Chemically identical to petroleum diesel
‘Drop-in’ fuel, one-for-one replacement that can be used in existing infrastructure and engines
No max blend (vs biodiesel max of 20%)
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