Chevron-REG mothballs indefinitely two biodiesel plants

In Iowa, the Des Moines Register newspaper reports Chevron Renewable Energy Group is mothballing indefinitely its biodiesel production facilities in Western Iowa and Wisconsin, saying that the Biden Administration’s policies have created market conditions that keep the plants from being viable. The Environmental Protection Agency set the biodiesel blending mandates about 1 billion gallons below installed capacity for 2023-2025, leaving little room for maneuver within the market or for growth potential. RIN prices for biodiesel have fallen by about 70%.