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NOPA urged CARB to reject the proposed vegetable oil cap on biomass-based diesel feedstocks for California, arguing it contradicts CARB's own modeling. NOPA said the cap, along with pathway phaseouts and stricter traceability rules, would raise pump prices and worsen air quality.
It also argued the rules favor imported used cooking oil and tallow over U.S. oilseed feedstocks.
Industry opposition signals possible litigation or revision of the cap, but if adopted it would cut demand for domestic soybean oil and favor imported waste feedstocks.
nopa.orgJud AshmanAug 27, 2024After 351 past bearish policy events, Soybean Oil moved a median -0.0% over 5 sessions (49% higher; middle half -1.7% to +1.8%), and -0.2% over 20.
After 369 past bearish policy events, Soybeans moved a median -0.2% over 5 sessions (46% higher; middle half -1.7% to +1.8%), and +0.8% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
