# US biodiesel industry dependent on tax credit, RFS to compete with fossil-based diesel - Biofuels International Magazine

> The National Biodiesel Board said the nearly two-year lapse of the biodiesel tax credit and flatlined RFS volumes are hurting the industry. Nine biodiesel plants have cut production or closed, with layoffs in several states, and more could follow. The NBB urged Congress to restore the tax incentive.

- Date: 2019-11-13 · published 2019-11-13T12:00:00.000Z
- Category: policy · region US · magnitude medium
- Page: https://feedsoft.ai/events/55931-us-biodiesel-industry-dependent-on-tax-credit-rfs-to-compete-with-fossil-based
- Commodities: [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

Plant closures and reduced biodiesel output lower demand for soybean oil, which is a major feedstock. Continued uncertainty over the tax credit could keep soybean oil demand weaker than it would be otherwise.

## Read by commodity

- SBO: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SBO | 2017-05-09 | [Congress urged to extend biodiesel blenders’ tax credit - Biofuels International Magazine](https://feedsoft.ai/events/70874-congress-urged-to-extend-biodiesel-blenders-tax-credit-biofuels-international.md) | +0.9% | -4.1% |
| SBO | 2019-12-20 | [EPA’s final 2020 RFS rule adds more uncertainty to US biofuel policy - Biofuels International Magazine](https://feedsoft.ai/events/55455-epa-s-final-2020-rfs-rule-adds-more-uncertainty-to-us-biofuel-policy-biofuels.md) | +2.8% | -3.1% |
| SBO | 2019-04-01 | [NBB calls on EPA to reform small refinery exemptions - Biofuels International Magazine](https://feedsoft.ai/events/59465-nbb-calls-on-epa-to-reform-small-refinery-exemptions-biofuels-international.md) | +2.8% | -1.7% |
| SBO | 2018-05-22 | [EPA Refinery Waivers, Tax Credit Debate Beset Biodiesel Industry](https://feedsoft.ai/events/64923-epa-refinery-waivers-tax-credit-debate-beset-biodiesel-industry.md) | -0.7% | -8.2% |
| SBO | 2021-07-19 | [New Argentina biodiesel law to weigh on international soyoil prices -industry \| Financial Post](https://feedsoft.ai/events/46141-new-argentina-biodiesel-law-to-weigh-on-international-soyoil-prices-industry.md) | -0.1% | -1.4% |

## Sources

- biofuels-news.com: https://biofuels-news.com/news/us-biodiesel-industry-dependent-on-tax-credit-rfs-to-compete-with-fossil-based-diesel/

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