In 2022, renewable diesel (RD) utilization (based on product supplied) surpassed biodiesel (BD) use. For Q1 of 2023, RD has extended the gap. This is not surprising given the rapid expansion of RD capacity in the past couple of years.
What also was expected, but perhaps still slightly surprising when looking deeper, is the regional growth in RD demand. With the growth of RD, in 2022 petroleum diesel consumption in the western U.S. (California, Oregon, Washington, Arizona, and Nevada) was its lowest since 2002, and is trending lower as RD use expands. For the first four months of 2023, petroleum diesel use in the west has continued to decline. Note, this region has California’s Low Carbon Fuel Standard, and Oregon’s and Washin...
What You Need to Know Today: Russia rejected calls for a ceasefire in the Black Sea, including a proposal to halt attacks on civilian shipping that could help restore grain flows from Ukrainian ports. Tyson Foods announced plans to permanently close its Joslin, Illinois, beef processing facili...
The big news in the cattle markets yesterday was Tyson Foods’ move to close two more beef plants. One of them, the Joslin, Illinois, plant was shuttered immediately after the announcement. The other, in Eagle Mountain, Utah, is a case-ready plant that does not slaughter cattle. Tyson also...
The Bureau of Labor Statistics (BLS) released the Consumer Price Index (CPI) on Wednesday. In July, the CPI rose 0.1 percent, seasonally adjusted, and rose 3.4 percent over the last 12 months, not seasonally adjusted. The index for all items less food and energy, or the “core” infla...
