A new economic analysis finds that EPA’s proposal to assign 50 percent of the Renewable Identification Number credits to imported biofuels and biofuels made from imported feedstocks compared to domestic would strengthen domestic soybean markets “It actually puts a disincentive on importing feedstocks from off our shores,” said Dave Walton, vice president, American Soybean Association. “Feedstocks from the United States, Canada and Mexico are eligible for a full RIN credit, and what we are trying to do is slow the flow of imported feedstocks into the U.S.” Walton says expanding domestic biofuel demand can help reduce reliance on export markets like China. “It’s going to help increase demand in the marketplace and send a signal to the crush industry that they need to continue to expand and crush more soybeans for that oil that will go into the biodiesel industry. It’s a huge demand driver right now, and it’s an America-first energy idea.”
