U.S. energy companies are pressing states to speed the development of low-carbon fuel markets, warning that numerous proposed projects to make renewable natural gas and other biofuels may fizzle. State programs, led by California’s Low Carbon Fuel Standard (LCFS), reward fuel producers for decarbonizing by producing renewable fuels, who have responded by ramping up their production of such a “greener” supply. As a result, the price of credits that refiners and other polluters can generate has dropped sharply – thereby making it less likely that companies will invest in more production facilities in coming years. Nearly every U.S. independent petroleum refiner has announced plans to produce fuel from waste and vegetable oils because the incentives can prove profitable for their industries. The U.S. Energy Department projects renewable diesel will be about 7% of the overall diesel pool by 2030; it is currently just 5%. However, the price […]