/// Guest post by contributor Jon Scharingson, Renewable Energy Group
RINs.
When it comes to biodiesel, this acronym is a complex but critical part of the value proposition and a great opportunity for travel plazas and truckstops. Renewable Identification Numbers (RINs) are the tracking mechanism for biodiesel use under the Renewable Fuels Standard. The Renewable Fuels Standard, or RFS2, is the number one market driver for biodiesel blending today.
Travel center operators can utilize the value of RINs to off-set the cost of biodiesel for blending with No. 2 diesel. RIN values have ranged from $1.40 to $2.10 per gallon since January 1, 2012 according to OPIS. For those following the biodiesel industry, the $1/gallon blenders’ credit, which helps make biodiesel more economical versus diesel, is currently lapsed. However, these RINs values can be an opportunity for operations moving large volumes of diesel fuel.
While these offer significant value, taking advantage of RINs requires new administrative and compliance processes. This year, the Oil Price Information Service (OPIS) is again hosting a two-day in-depth workshop on RINs. Registrations have exploded from last year’s numbers as the biodiesel requirements ramp up under the RFS2. Sessions will cover when and how RINs can be used, how to separate RINs from the ethanol and biodiesel gallons they represent to garner value as well as the complex and ever-changing biodiesel supply picture.
Pilot/Flying J’s David Dobbins will discuss the company’s participation in the supply chain on the “Biodiesel Supply Chain Integrity” panel along with Marathon and REG’s VP, Sales and Marketing, Gary Haer.
As NATSO Chairman Circle members we are pleased to partner with OPIS to offer a $300 discount on the registration fees for the Chicago event Oct. 18-19th.
To register, use discount code “NATSO” here.
In addition, we are hosting a free bus tour (including lunch and refreshments) of our REG Seneca biodiesel plant on Wed. Oct. 17th. We welcome you to join the tour, even if you don’t register for the conference. Sign up for the tour of the 60 million gallon per year biorefinery outside of Chicago on Oct. 17th.
/// Read more guest posts on biodiesel posts here.
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Jon Scharingson of Renewable Energy Group will be providing biodiesel content on NATSO's blog regularly. Post your biodiesel questions in the comments below and Jon will answer them in future posts. |
{Guest Post} Guest post provided by NATSO Chairman's Circle member Jon Scharingson, Renewable Energy Group. Renewable Energy Group® is a leading North American biodiesel producer with a nationwide distribution and logistics system. With more than 210 million gallons of owned/operated annual production capacity at biorefineries across the country, REG is a proven biodiesel partner in the distillate marketplace. Learn more about Renewable Energy Group.
The opinions and advice given by guest post contributors are not necessarily those of NATSO Inc. The posts should not be considered legal advice. Qualified professionals should be sought regarding advice and questions specific to your circumstances.
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