bigger than expected draw in #LCFS
-1.71 vs expectations right around -1
RD came in lower than expected which resulted in more clear diesel usage which was amplified by the increased step down in stringency
RD Q2 vs Q3 was 606.9 mmg vs 538.6
resulting in nearly 1mm less credits
Closer but still off. The #LCFS WILL NOT lead to any kind of automatic increase in gas prices. The "confusion" is deliberate, caused by bad-faith talking points from likes of @SenBrianJones
https://t.co/xkxSrkQA4a
Wrong and this guy knows it, not that it matters.
#LCFS has been in place for over 10 years. It's not a "fee" but a market-based program that sets targets and lets the fuel industry figure out how to get there. It worked so well that new targets are being implemented.
Californians, brace yourselves — two gas price hikes hit July 1st:
1. Newsom’s 65-cent/gallon “Low Carbon Fuel Standard” fee takes effect
2. State gas taxes rise to 61.2 cents/gallon
#FixCalifornia
🚨Breaking News: The #California Air Resources Board has just resubmitted the #LCFS Proposed Amendments to the Office of Administrative Law. OAL has until June 30, 2025, to make a final determination.
The 2025 CI is set to be 70 g/MJ, about a 13% reduction from the 2024 value of 80 g/MJ. The primary driver for the CI decrease appears to be an increase in hydro (record rainfall in 2023/24!) and decrease in natural gas power.
CARB posted 2025 grid-average electricity (CI) value for public comment. Each year they update this value based on the electricity resource mix in the state. The grid-average electricity CI impacts EV LCFS credit generation under the program.
https://t.co/H6y6Kc2o36
#lcfs