January 11, 2022
BY Erin Voegele
The U.S. Energy Information Administration currently predicts U.S. biodiesel production will increase in both 2022 and 2023, according the agency’s latest Short-Term Energy Outlook, released Jan. 11. The EIA also expects to see net imports of biobased diesel to expand over the next two years.
According to the EIA, U.S. biodiesel production decreased by 10 percent from 2020 to 2021, averaging an estimated 107,000 barrels per day last year. The agency expects biodiesel production to increase by 7 percent this year, averaging 114,000 barrels per day. Production is expected to increase to 115,000 barrels per day in 2023.
The EIA said forecasted production increases follow the agency’s expectation of growing U.S. diesel consumption, along with higher Renewable Fuel Standard targets and the continuation of the $1 per gallon biodiesel and renewable diesel tax credit through December 2022.
Advertisement
Net U.S. imports of biomass-based diesel increased 31 percent last year, reaching 28,000 barrels per day. The EIA predicts that net imports will increase to an average of 46,000 barrels per day in both 2022 and 2023. Increased net imports of biomass-based diesel primarily reflect increased volumes of renewable diesel imported to meet both California Low Carbon Fuel Standard requirements and the federal RFS targets, according to the EIA.
Advertisement
Reps. Zach Nunn, R-Iowa, and Nikki Budzinski, D-Ill., on May 7 introduced a bill that aims to update USDA’s Section 9003 program to expand access to grants, streamline loan guarantees and provide $100 million in mandatory funding over five years.
Novonesis on May 8 released fourth quarter financial results, reporting its Agriculture, Energy and Tech segment achieved 10% organic growth during the three-month period. Much of that increase was driven by the biofuels industry.
On May 6, the Sustainable Aviation Buyers Alliance released a request for proposal (RFP) to increase the supply of next-generation sustainable aviation fuel (SAF), including power-to-liquids and those using advanced biobased feedstocks.
Sunoco LP on May 5 announced a definitive agreement to acquire all outstanding shares of Parkland Corp. The Burnaby refinery, which recently began to produce SAF, is among the assets subject to the transaction.
Ethanol Producer Magazine announced this week the six companies selected to pitch to a group of angel investors and venture capital firms at the International Fuel Ethanol Workshop & Expo, taking place June 9-11, 2025, in Omaha, Nebraska.