# U.S. oil refiners look to leapfrog Canadians in making renewable diesel

> US refiners are looking to move ahead of Canadian producers in renewable diesel made from spent cooking oil, canola oil, or animal fats. Renewable diesel makes up just 0.5% of the roughly 430 billion gallon global diesel market, per Morgan Stanley.

- Date: 2020-10-04 · published 2020-10-04T12:00:00.000Z
- Category: policy · region Global · magnitude low
- Page: https://feedsoft.ai/events/50523-u-s-oil-refiners-look-to-leapfrog-canadians-in-making-renewable-diesel
- Commodities: [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Canola Meal](https://feedsoft.ai/c/CANMEAL.md)

## Why it matters

Growth in renewable diesel would add feedstock demand for vegetable oils and fats, but the niche size limits near-term price impact.

## Read by commodity

- SBO: bullish ▲
- CANMEAL: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SBO | 2020-06-01 | [HollyFrontier to convert oil refinery into renewable diesel plant](https://feedsoft.ai/events/52476-hollyfrontier-to-convert-oil-refinery-into-renewable-diesel-plant.md) | +2.8% | -0.7% |
| SBO | 2020-06-24 | [Refiners start to add renewable diesel capacity, seen as cost-cutting move](https://feedsoft.ai/events/52478-refiners-start-to-add-renewable-diesel-capacity-seen-as-cost-cutting-move.md) | -0.7% | +6.2% |
| SBO | 2022-11-10 | [CHS sees 'bullish' demand in soybean oil, citing renewable diesel](https://feedsoft.ai/events/38751-chs-sees-bullish-demand-in-soybean-oil-citing-renewable-diesel.md) | -1.8% | -13.0% |
| SBO | 2023-02-27 | [Soy oil demand soars amid renewable diesel growth \| CHS Inc.](https://feedsoft.ai/events/15333-soy-oil-demand-soars-amid-renewable-diesel-growth-chs-inc.md) | -1.3% | -8.2% |
| SBO | 2020-11-04 | [Evolve or die: US refiners grasp renewables lifeline to stay viable](https://feedsoft.ai/events/50025-evolve-or-die-us-refiners-grasp-renewables-lifeline-to-stay-viable.md) | +6.7% | +10.9% |

## Sources

- reuters.com: https://www.reuters.com/article/businessNews/idUSKBN26P06E/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.