According to ICIS Houston, John Plaza, founder and CEO of Imperial Renewables, said on Thursday that if the federal government continues to delay the implementation of the National Renewable Fuel Standard (RFS), then The entire country's biodiesel industry will be on the verge of desperation.
Pillar said that for biodiesel manufacturers, the past four months can be described as a disaster. This is mainly due to two factors. First, the price of crude oil continues to fall, which is lower than US$50 per barrel, making it renewable. Fuels are less competitive than mixed fuels; second, consumers generally reduce their use of fuel due to the global economic crisis.
At the same time, in order to protect the country’s renewable fuel industry, EU countries have imposed high tariffs on US materials, which is the largest market for US biofuel manufacturers. Last year, the US sent 75% of its products to the European Union. area.
Pilla said that currently biodiesel manufacturers have seen their output drop by as much as 95% year-on-year, and they also have to wait for policy makers to end their current arguments.
Pillar said that for biodiesel manufacturers, the past four months can be described as a disaster. This is mainly due to two factors. First, the price of crude oil continues to fall, which is lower than US$50 per barrel, making it renewable. Fuels are less competitive than mixed fuels; second, consumers generally reduce their use of fuel due to the global economic crisis.
At the same time, in order to protect the country’s renewable fuel industry, EU countries have imposed high tariffs on US materials, which is the largest market for US biofuel manufacturers. Last year, the US sent 75% of its products to the European Union. area.
Pilla said that currently biodiesel manufacturers have seen their output drop by as much as 95% year-on-year, and they also have to wait for policy makers to end their current arguments.