RINatomy Part 2 – The RIN As A Tax

A Renewable Identification Number (RIN) is an environmental credit that is part of a price control system that manipulates the prices of fuel components to force otherwise non-economic biofuels into the US fuel supply.  Anatomy noun, anat·​o·​my ə-ˈna-tə-mē  a study of the structure or inner workings of something Read other blogs in this series RINatomy:…

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RINatomy Part 1 – The RIN As A Subsidy

A Renewable Identification Number (RIN) is a part of the price control system that manipulates the prices of fuel components to force otherwise non-economical biofuels into the US fuel supply.  Anatomy noun, anat·​o·​my ə-ˈna-tə-mē  a study of the structure or inner workings of something Read other posts in this series RINatomy – In this control…

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RINs And Stock Prices – Are They Connected?

The current renewable diesel boom was triggered by $billions of investment whose financial success relies on government mandates, credits, and subsidies, primarily the Renewable Fuels Standard and its Renewable Identification Number (RIN) credit system. Hoekstra Trading has studied relationships between RINs and stock prices since 2020 and reported on them in our annual Research Reports.…

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Hoekstra Trading Announces Hoekstra – Bloomberg Licensing Agreement

Hoekstra Trading is pleased to announce it has entered a data acquisition agreement with Bloomberg Finance LP that grants Bloomberg a license to use, display, and deliver Hoekstra Trading’s “D4T” value to Bloomberg users starting January 1, 2024.   D4T is the theoretical value of a D4 Renewable Identification Number (RIN) calculated weekly by Hoekstra Trading…

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Renewable Diesel In The News – Part 1, Two Ways To Skin A Fat

Last week, Scott Irwin, Professor and Laurence J Norton Chair of Agricultural Marketing at University of Illinois, presented “The RFS, Renewable Diesel, SAF & the Future of Biofuels” at the 2023 Farm Assets Conference in Champaign, Illinois. His assignment from The Management was to explain this topic in 30 minutes or less. Read other blogs…

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D4 Renewable Identification Number (RIN) Theoretical Price Drops To 66 cents

The Attractor RIN price model is a spreadsheet that calculates the theoretical value of the D4 Renewable Identification Number (RIN) using Hoekstra Trading’s spreadsheet application of the Irwin-McCormack-Stock (IMS) pricing model and our best estimates of the values of the fundamental economic variables that determine the D4 RIN value. Figure 1. Attractor D4 RIN Price…

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Welcome to the Future – Part 2 – High cost of gasoline sulfur specification draws attention from refiners and financial analysts

The price of the Tier 3 gasoline sulfur credit hit $3,600 in October, up by a factor of 10 since 2022. The high price of this credit is a direct indicator of the true cost of compliance with the Tier 3 gasoline sulfur standard and has raised attention recently in refining and financial circles.  In today’s…

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