Name: Gold rush: renewable diesel is reshaping the California market
Brand: Wood Mackenzie
SKU: 132383
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Author: Wood Mackenzie

Insight 09 September 2020

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            <h3 class="mega store_featured_content_extrabold store_font_black">Report summary</h3>
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In this insight we take a closer look at the California LCFS and analyse the economics driving a surge of recently announced renewable diesel investments in the US. We first review how the program has affected refiners in California and the state’s refined product markets, then highlight how significantly it will continue to shape those market through 2030. We conclude with a summary of the announced investments by US refiners and an assessment of how the EU’s Renewable Energy Directive (REDII) could affect profitability for renewable diesel producers looking to maximize LCFS credit generation.</div>
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                    <h3 class="alpha push-half--bottom">Table of contents</h3>

<li class="list__item-toggle font-semibold">
        A closer look at California’s Low Carbon Fuel Standard (LCFS)
    </li>

<li class="list__item-toggle font-semibold">
        Why are the economics of producing renewable diesel so attractive?
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<li class="list__item-toggle font-semibold">
        What are the implications of renewable diesel production for the diesel market in California?
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<li class="list__item-toggle font-semibold">
        What are the alternatives for California petroleum diesel?
    </li>

<li class="list__item-toggle font-semibold">
        How are California refiners responding?
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<li class="list__item-toggle font-semibold">
        Can we expect this trend to advance outside of California?
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<li class="list__item-toggle font-semibold">
        What does the future hold?
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         <li class="list__item push-quarter--bottom">Figure 1: Historical and proposed CI reduction under LCFS</li><li class="list__item push-quarter--bottom">Figure 2: LCFS credit and gasoline / diesel LCFS deficit prices</li><li class="list__item push-quarter--bottom">Figure 3: LCFS credit generation by source type</li>
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            <li class="list__item push-quarter--bottom">Table 1: Average CI of certified renewable diesel pathways under LCFS</li><li class="list__item push-quarter--bottom">Figure 5: Renewable diesel value into California market and historical soybean oil price (FOB, Decatur)</li><li class="list__item push-quarter--bottom">Figure 5: California biomass-based diesel volumes</li><li class="list__item push-quarter--bottom">Figure 6: PADD III diesel exports</li><li class="list__item push-quarter--bottom">Figure 7: PADD V diesel exports</li><li class="list__item push-quarter--bottom">Figure 8: CDU capacities of California refiners (MPC Marathon and P66 San Francisco removed)</li>
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<p class="font-regular" >Gold rush: renewable diesel is reshaping the California market</p>
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