Canadian Biofuels: Clean Fuel Regulation, Competitiveness and Budget 2024

This week our guest is Doug Hooper, Director of Policy and Regulations at Advanced Biofuels Canada. Advanced Biofuels Canada is an industry association that promotes the production and use of biofuels and renewable synthetic fuels. One of the topics covered in the podcast is Canada’s Clean Fuels Regulation (CFR). The policy is nearing its first anniversary after coming into effect on July 1, 2023 (Canada Day). The rule requires Canadian refiners and fuel importers to reduce the carbon intensity of the gasoline and diesel sold by about 2% annually between 2023 and 2030.  By 2030, under the rule, Canada's average gasoline and diesel fuel will be 15% less carbon intensive.  Biofuels will be a major compliance source for the new rule; emissions reductions are also expected in upstream oil and gas (for domestically consumed oil) and alternative transportation fuels, such as hydrogen and electricity.The conversation considered Canadian competitiveness with the United States for liquid biofuel production. Doug explained how the Inflation Reduction Act (IRA) of 2022 put a chill on investing in biofuel production facilities in Canada. The recent Canadian Federal Budget 2024 introduced some new measures to help close the gap, but will this be enough? Research referenced in this podcast:  The annual report from Navius Research called “Biofuels in Canada 2023”  Please review our disclaimer at: https://www.arcenergyinstitute.com/disclaimer/   Check us out on social media:  X (Twitter): @arcenergyinst LinkedIn: @ARC Energy Research Institute  Subscribe to ARC Energy Ideas Podcast Apple Podcasts Amazon Music Spotify