Secondary Impacts from Rising Used Cooking Oil Demand on Crop-Oil Prices

Andrew Swanson, Shawn Arita, Joseph Cooper and Seth Meyer

farmdoc daily, 2024, vol. 14, issue 230

Abstract: Renewable fuel policies like the national Renewable Fuel Standard (RFS) and California’s Low Carbon Fuel Standard (LCFS) have created a boom in the consumption of alternative diesels. These alternative diesels come in the form of biodiesel or renewable diesel, or biomass-based diesels (BBDs) as a group. National consumption of BBDs more than doubled from 2015 to 2023, and 70% of the diesel consumed in California comes from biofuels. BBDs hold the promise of emitting less greenhouse gas emissions than petroleum diesels without requiring major changes in heavy-duty engine technology like switching to battery technologies. Thus, BBDs could serve as a bridge technology away from petroleum fuels as battery and fuel-cell technology in the heavy-duty sector is not ready for mass adoption, and many industry leaders in agricultural states view the heavy-duty market as a growing source of demand for biofuels for decades to come.

Keywords: Agribusiness; Energy Markets; Renewable Fuels Standards (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:ags:illufd:358377

DOI: 10.22004/ag.econ.358377

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