Volume 6, Issue 6
Published: July 23, 2012
Staying positive

A pessimist would say if it wasn’t for bad luck some people would have no luck at all. Good then that the US biodiesel industry remains an assembly of optimists, with the hard times of 2010 no doubt already draining any lingering pessimists from their ranks.

 

There is a federal mandate requiring biodiesel consumption, with this year’s Renewable Fuels Standard setting demand for biomass-based diesel at one billion gallons. Otherwise, the pincer action of weak fundamentals and high costs for feedstock might again have a more traumatic effect on biodiesel producers in the US.

 

Industry sources explain there have been operating cutbacks at US biodiesel plants due to poor market conditions, with traders and brokers talking of a supply glut. Storage tanks are full, they say, due to a sharp supply buildup in late 2011 to capture a now expired tax credit while domestic demand has remained weak.

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