US bill aims to boost biofuel use in ships
Legislation proposed in the US House of Representatives on Thursday would allow ocean-going ships to consume renewable fuels without forcing the retirement of associated RIN credits.
RIN credits currently cannot be used for compliance purposes and must be retired if the biofuel is burned outside of US waters. This leads to higher biofuels purchasing costs for vessel owners who do not operate solely in US waters, as they must make up the lost RIN revenue for parties that would otherwise capture it. The only vessels that can avoid the additional costs are littoral and harbor vessels that do not leave US waters.
Passage of the proposed legislation would lower the cost of using biodiesel and renewable diesel for marine fuel, likely increasing demand.
The bipartisan bill was introduced by representatives Mariannette Miller-Meeks (R-Iowa) and John Garamendi (D-California) with co-sponsorships from representatives Nikki Budzinski (D-Illinois) and Carlos Gimenez (R-Florida). The bill's final text will be submitted early next week, according to Miller-Meeks' office.
Under the US Renewable Fuel Standard (RFS), obligated parties such as fuel refiners and importers must blend billions of gallons of biofuels with transportation fuels. To prove compliance with the RFS, these obligated parties acquire tradable RIN credits that are then submitted to the EPA.
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Houston refiners weather hurricane-force winds: Update
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Brazil's Rio Grande do Sul reallocates gas supply
Brazil's Rio Grande do Sul reallocates gas supply
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Houston area refiners weather hurricane-force winds
Houston area refiners weather hurricane-force winds
Houston, 17 May (Argus) — Over 2mn b/d of US refining capacity faced destructive winds Thursday evening as a major storm blew through Houston, Texas, but the damage reported so far has been minimal. Wind speeds of up to 78 Mph were recorded in northeast Houston and the Houston Ship Channel — home to five refineries with a combined 1.5mn b/d of capacity — faced winds up to 74 Mph, according to the National Weather Service . Further South in Galveston Bay, where Valero and Marathon Petroleum refineries total 818,000 b/d of capacity, max wind speeds of 51 Mph were recorded. Chevron's 112,000 b/d Pasadena refinery on the Ship Channel just east of downtown Houston sustained minor damage during the storm and continues to supply customers, the company said. ExxonMobil's 564,000 b/d Baytown refinery on the Ship Channel and 369,000 b/d Beaumont, Texas, refinery further east faced no significant impact from the storm and the company continues to supply customers, a spokesperson told Argus . Neither Phillips 66's 265,000 b/d Sweeny refinery southwest of Houston nor its 264,000 b/d Lake Charles refinery 140 miles east in Louisiana were affected by the storm, a spokesperson said. There was no damage at Motiva's 626,000 b/d Port Arthur, Texas, refinery according to the company. Marathon Petroleum declined to comment on operations at its 593,000 b/d Galveston Bay refinery. Valero, LyondellBasell, Pemex, Total, Calcasieu and Citgo did not immediately respond to requests for comment on operations at their refineries in the Houston area, Port Arthur and Lake Charles. A roughly eight-mile portion of the Houston Ship Channel from the Sidney Sherman Bridge to Greens Bayou closed from 9pm ET 16 May to 1am ET today when two ships brokeaway from their moorings, and officials looked in a potential fuel oil spill, according to the US Coast Guard. The portion that closed provides access to Valero's 215,000 b/d Houston refinery, LyondellBasell's 264,000 b/d Houston refinery and Chevron's Pasadena refinery. By Nathan Risser Houston area refineries Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
Texas barge collision shuts GIWW section: Correction
Texas barge collision shuts GIWW section: Correction
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