22 October 2018
Napa Valley, California, USA

Argus RFS and RINs Training

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Training day

Start End
  • 09:00
  • -
  • 11:00
  • Session 1 - An overview of the Renewable Fuels Standard

• RINs types and rules for using RINs for compliance 
• Examining how the rules have shaped the “unusual” behavior of the RINs and biofuels markets. (D6-D4 Spreads) 
• How Cellulosic Waiver Credits set cellulosic RINs prices 
• Understanding RINS price risk factors, part 1 

  • 11:00
  • -
  • 11:15
  • Morning break
  • 11:15
  • -
  • 13:00
  • Session 2 - Biofuel blending: economics and drivers
• How the “blendwall” chose the future biofuels for the RFS 
• The lynchpin RIN: commodity-driven D4 RIN economics 
• Understanding more of the factors in RINs and biofuels prices 
• Influences from policy (CAFE, blender tax credit, LCFS, state incentives) 
• Interpreting the Argus RINs annual price forecasts 
• RINs price forecasting 101 
  • 13:00
  • -
  • 14:00
  • Lunch
  • 14:00
  • -
  • 15:30
  • Session 3 - Annual rulemakings and renewable volume obligations
• RVO costs to refiners and effects on fuels markets
• Product costs and RINs price pass-thorough: The ugly truth
• Strategic action by obligated parties
• Suggestions on “Hedging” strategies in unhedgeable markets
• Risks and rewards from compliance strategies
• US biofuels market, opportunities and constraints
  • 15:30
  • -
  • 15:45
  • Afternoon break
  • 15:45
  • -
  • 16:00
  • Summary and discussion

• After-talk: RINS price risks, part 2: Near Term factors 
• After-talk: Long and short-term strategic thinking