"This is Canada's to lose," Mr Thomson said."If Canada's refiners want to get left out of the game, they will dig their heels in and oppose the standard. Meanwhile, the Americans will build." Renewable diesel is a niche market, making up just 0.5 per cent of the 430-billion gallon per year global diesel market, according to investment bank Morgan Stanley.
US states such as Colorado and Washington are moving toward such standards and along with Canada's fuel standard, a sufficient market is developing, said HollyFrontier executive Tom Creery, on the company's second-quarter earnings call. Canadian refiners face longer regulatory delays than competitors in the United States, setting them at a disadvantage, she said.
Parkland Fuel is producing renewable diesel and renewable gasoline in its Burnaby, British Columbia refinery, and is considering expanding capacity, said senior vice-president Ryan Krogmeier.
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