Food companies and the energy industry are fighting it out over … vegetable oil

The push has alarmed food companies coping with record prices for many edible oils this year. But the energy sector is just whetting its appetite in the vegetable oil market, according to analysts and public announcements from refining companies.

In food and agricultural circles, “it’s become the diesel vs doughnuts debate as food and fuel compete for that oil”, said David Widmar, an agricultural economist and consultant. Tensions are at their highest in the U.S., where federal policy and low-carbon fuel mandates in states such as California are driving heavy investment in renewable diesel production capacity.

Oil companies have flocked to renewable diesel markets over the past two years. Last month, ExxonMobil proposed a renewable diesel investment in Canada. Independent oil refiners Marathon, Phillips 66 and HollyFrontier are also pursuing projects.

Meanwhile, the world’s largest canola crushing plant (and a smaller one) is being built just north of Regina.

Sverige Senaste nytt, Sverige Rubriker

Similar News:Du kan också läsa nyheter som liknar den här som vi har samlat in från andra nyhetskällor.

The mattress company that started the risk-free sleep trialA Canadian company with seven mattress options to suit every sleeper
Källa: nationalpost - 🏆 10. / 80 Läs mer »

TIFF confirms COVID-19 case at festival press and industry screeningsThe TIFF organization says its customer relations team was informed of a positive COVID-19 result but the festival offered no details on how many or which screenings were involved
Källa: globeandmail - 🏆 5. / 92 Läs mer »