Traders, marketers, producers and other stakeholders of the US biodiesel industry have converged on Tampa, Fla., this week for the 2016 National Biodiesel Conference to review the last year and look ahead to what 2016 brings. Despite spending 2015 awash in uncertainty due to the US Environmental Protection Agency’s delayed decision on the Renewable Fuel Standard blending mandates, the biodiesel industry ended the year with a few key victories. First, the EPA in late November finally released the blending mandates for 2014, 2015 and 2016, giving the industry guidance into how much biodiesel will be required to be blended into US fuel stocks. Second, the industry for the first time in three years enters 2016 with the federal $1/gal blenders tax credit already in place. Congress reinstated the credit in December through the end of 2016. Finally, biodiesel production remains strong. Data released by the EPA late last week showed that biomass-based diesel volumes reached 1.814 million gallons, breaking the previous record of 1.79 million gallons set in 2013. That number far outpaces the 1.73 billion gallons called for in the 2015 RFS mandate. Furthermore, the RFS mandates call for an increase of biodiesel to 1.9 billion gallons in 2016
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Source: CTRM Center