Posts by Hoekstra Trading LLC
New Hoekstra-Bloomberg Licensing Agreement
Hoekstra Trading LLC is pleased to announce the expansion of its Data Acquisition Agreement with Bloomberg Finance LP to now include the licensing of D6T, the theoretical value of the D6 Renewable Identification number (RIN). Under the agreement, Hoekstra will provide weekly D6T values along with the values of D3T (first licensed in 2024) and…
Read MoreWhat Will Cause Separation of the D4, D5 and D6 RIN Prices, Part 5 (final episode) – The ATTRACTOR RIN System Roadmap
See other blogs in this series: What Will Cause Separation of the D4, D5, and D6 RIN Prices? Part 1 of this series shows that Renewable Identification Number (RIN) price movements like the Big Bang are caused by boundaries (like the Blend Wall and the RIN Cliff) that don’t exist in free, uncontrolled markets. Part…
Read MoreWhat Will Cause Separation of the D4, D5, and D6 RIN Prices? Part 4 – The Next Big Move
In the U.S. biofuels market, it has become normal for the prices of three Renewable Identification Number (RIN) credits to be the same. They are the D4 (biomass-based diesel), D5 (advanced biofuel) and D6 (conventional renewable biofuel) RINs. This equality is caused by special circumstances that have applied at times. The current question is what…
Read MoreWhat will cause separation of the D4, D5, and D6 RIN prices? Part 3 – D6 RIN pricing framework
In the U.S. biofuels market, it has become normal for the prices of three Renewable Identification Number (RIN) credits to be the same. They are the D4 (biomass-based diesel), D5 (advanced biofuel) and D6 (conventional renewable biofuel) RINs. This equality is caused by special circumstances that have applied at times. The current question is what…
Read MoreWhat will cause separation of the D4, D5, and D6 RIN prices? Part 2 – The Big Bang and the Meiselman model
In the U.S. biofuels market, it has become normal for the prices of three Renewable Identification Number (RIN) credits to be the same. They are the D4 (biomass-based diesel), D5 (advanced biofuel) and D6 (conventional renewable biofuel) RINs. This equality is caused by special circumstances that have applied at times. The current question is what…
Read MoreWhat will cause separation of the D4, D5, and D6 RIN prices Part 1 – Studying boundaries with ATTRACTOR
In the U.S. biofuels market, it has become normal for the prices of three Renewable Identification Number (RIN) credits to be the same. They are the D4 (biomass-based diesel), D5 (advanced biofuel) and D6 (conventional renewable biofuel) RINs. This equality is caused by special circumstances that have applied at times in RIN price history. The…
Read MoreTop Three Takeaways – from the 2025 OPIS RFS, RINs, and Biofuels Forum, Chicago
Takeaway Number 3: Blurring Boundaries The rules of the renewable fuels game are increasingly being set more by politics and less by science and economics. The most direct evidence of this trend is the hijacking of a thermodynamic constant called the Equivalence Value for use as a political tool. The Equivalence Value is the ratio…
Read MoreAn Otherwise Unpublished Wall Street Journal Op-ed on Renewable Fuels
This Editorial from yesterday’s Wall Street Journal is titled : The Wrong Way to Help Farmers – To ease tariff pain in the Farm Belt, Trump is doubling down on the ethanol mandate that will raise fuel costs for everyone else. It is a confusing editorial about a confusing topic. Let’s dissect its 3-part subtitle:…
Read MoreEconomics of Refinery Octane Part 2 – Today’s High Octane Values Mean Opportunities For Refiners
See other posts in this series, Economics of Refinery Octane: The last three years have seen historic changes in the U.S. octane market. The wholesale value of octane, the primary yardstick of gasoline quality and price, spiked threefold in July 2022, followed by another year of high and volatile values in 2023. The numbers for…
Read MoreTop 3 Takeaways from American Fuel and Petrochemical Manufacturers (AFPM) Summit 2025
Number 3: 300 First Time Attendees! The halls were buzzing with 30-somethings (and some even younger delegates), 300 of whom were first time attendees. Many of them served as presenters and panelists while their graying mentors roamed around the rooms with microphones (Phil Donahue style), fielding questions from large audiences which included the panel members’…
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