Americas News
US Politicians Seek to Subsidise Biofuel Use in Shipping
A pair of US representatives have introduced a bill to Congress seeking to facilitate the use of biofuels in shipping.
Mariannette Miller-Meeks and John Garamendi introduced the bipartisan 'Renewable Fuel for Ocean-Going Vessels Act' legislation on Thursday, according to a statement on Miller-Meeks's website. Nikki Budzinski and Carlos Giménez co-sponsored the bill.
The legislation would allow companies to preserve RIN credits under the Renewable Fuel Standard for biofuels used in marine fuel blends.
RIN credits are generated when renewable fuels are blended into transportation fuels, and US EPA regulation requires refiners and fuel importers to surrender a certain number of the credits each year.
Making marine fuel blends eligible for these credits would be a key step in making the biofuel bunker market in the US viable. The biofuel bunker market has emerged rapidly in Northwest Europe and Singapore, but has yet to take off in the US.
"Ocean-going cargo ships, tankers, and passenger vessels have a need for low-carbon, low-sulfur biodiesel and renewable diesel which provides an additional market for biofuels," Miller-Meeks said in the statement.
"This legislation allows for RINs to be generated for renewable marine fuel without requiring an obligation on any parties.
"I thank my colleagues for supporting this legislation which opens the door for communities, like farmers in Iowa, to engage, and be involved, in the marine fuel industry and conversation."
