1. The tax credits that fuel retailers like Love’s have enjoyed for the past several years for offering biodiesel and renewable diesel are in jeopardy of not being renewed by the CA state government. As many of you already know, the state of CA and Governor Newsom have been pushing for a statewide move to EV for many years now, so the administration is considering removing any incentives to fuel suppliers that would stall the progress toward EV. For this reason, fuel retailers have also not been buying as much biodiesel and renewable diesel, and the CARB diesel (clear diesel) contract pricing has been pushed upward on short term and spot market.
2. Two major refineries in CA will be shutting down in the next few months, and so the remaining suppliers have already been making other arrangements to bring in fuel by other means to ensure there is no supply shortfall. See the article regarding the CA oil refinery situation...
