Shut out of selling biodiesel the the European Union, Argentina is now trying its hand at getting into the U.S. biodiesel market. Reuters reports the Argentinians believe it will be easier to meet U.S. environmental laws than overcome Europe’s block
“We’re going through the process of getting EPA approval, which takes some time,” Luis Zubizarreta, president of the Argentine Biofuels Chamber, told the Reuters Latin America Investment Summit.
“We’re well-positioned and we’re very confident of achieving this. In the next few months, we should have that approval.”
Argentina is the world’s top exporter of biodiesel – made from soybean oil – but shipments to its main client, the EU, plunged this year after the bloc launched investigations into possible dumping by Argentine suppliers.
The European block on the South American green fuel has cut in half Argentina’s production. If the EPA approves Argentinian bodiesel for RINs, the article says it would obviously help that country’s market while helping U.S. refiners, importers and others comply with biofuel blending requirements.