The specter of a growing backlog of small refinery exemptions (SREs) has driven heightened uncertainty in US biofuel markets in recent months, threatening to undermine the largest Renewable Volume Obligation (RVO) blend mandate in history. Concerns of widescale, retroactive SRE approvals have weighed heavily on RIN prices this year, distorting production and blend economics and forcing producers to run at reduced rates or shutter facilities.
This video presentation by Zander Cappozola (Principal, Argus Consulting) delivers detailed analysis of the scale and scope of the SRE backlog as well as a scenario analysis of potential outcomes for 2024 and pre-2024 SREs.
Resolution to the SRE issue is required by industry stakeholders to properly interpret final RVO standards and the latest 45Z regulations. While the EPA’s final policy direction remains unknown, this session equips stakeholders with critical context to better assess market risks an operational decision as we await a policy update from the EPA.
The flagship Argus North American Biofuels, LCFS & Carbon Markets Summit returns to Monterey, California on September 15-17, 2025. This premier event will bring together over 650 attendees, including regulators, key government agencies, and industry leaders from across the biofuels and carbon supply chain.
Where: The Hyatt Regency Monterey Hotel and Spa
When: September 15-17
Click below to find out more and register.
