Archive for June 2026

The price of the D4 Renewable Identification Number (RIN) credit has increased 130% so far in 2026. This RIN is a U.S. federal environmental credit that functions as a subsidy for production of diesel fuel made from soybean oil and as a tax on production of conventional diesel fuel made from crude oil. The RIN…

The gold line is the market price of the D3 cellulosic biofuel Renewable Identification Number (RIN), called Pd3, which has gone up from $2.39 to $2.66 so far this year. The black line is Hoekstra’s theoretical price, called D3T, which has fallen from $3.32 to $2.96 so far this year. The dashed lines show our…