# Senators call for strong Renewable Fuel Standard - Agweek | #1 source for agriculture news, farming, markets

> Biodiesel industry leaders met in Washington to push for reforming the biodiesel tax incentive into a domestic production credit. The National Biodiesel Board says the change would support 81,600 jobs and $14.7 billion in economic benefit. Importers supplied more than a billion gallons under the current blender's credit in 2016.

- Date: 2017-03-16 · published 2017-03-16T12:00:00.000Z
- Category: policy · region US · magnitude low
- Page: https://feedsoft.ai/events/71864-senators-call-for-strong-renewable-fuel-standard-agweek-1-source-for
- Commodities: [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

Changing the tax credit structure would shift biodiesel demand toward domestic production and affect soybean oil use. The outcome is uncertain, so the price effect is limited for now.

## Read by commodity

- SBO: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SBO | 2018-03-06 | [Oil, agriculture and the environment deserve an improved Renewable Fuel Standard](https://feedsoft.ai/events/65895-oil-agriculture-and-the-environment-deserve-an-improved-renewable-fuel-standard.md) | -1.4% | +1.0% |
| SBO | 2018-03-15 | [News, Notices and Announcements for the Renewable Fuel Standard \| US EPA](https://feedsoft.ai/events/65893-news-notices-and-announcements-for-the-renewable-fuel-standard-us-epa.md) | +1.9% | -0.5% |
| SBO | 2017-12-14 | [A Look at the 2018 Renewable Fuel Standards - NATSO](https://feedsoft.ai/events/67353-a-look-at-the-2018-renewable-fuel-standards-natso.md) | -0.5% | -0.5% |
| SBO | 2017-08-03 | [NBB Has Strong Showing at RFS Public Hearing, Calls for Higher Biodiesel Volumes - Fuels Market News](https://feedsoft.ai/events/69335-nbb-has-strong-showing-at-rfs-public-hearing-calls-for-higher-biodiesel-volumes.md) | -0.1% | +0.5% |
| SBO | 2020-08-25 | [Biden hits Trump over Renewable Fuel Standard delays, waivers \| 2020-08-25  \| Agri-Pulse Communications, Inc.](https://feedsoft.ai/events/51488-biden-hits-trump-over-renewable-fuel-standard-delays-waivers-2020-08-25-agri.md) | +4.1% | +6.3% |

## Sources

- agweek.com: https://www.agweek.com/news/senators-call-for-strong-renewable-fuel-standard

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