Mandates for biodiesel-blended heating oil … better known as Bioheat … are seen as good news for the growth of biodiesel, and traders are taking note. This article posted on SECFilings.com says the Bioheat mandates, coupled with other biodiesel mandates, will make the green fuel an investment that could make some real green, too.
In early July, the New York State Assembly and Senate passed legislation requiring that all heating oil sold in the state contain at least 2% biodiesel by 2015. The new regulation will replace about 30 million gallons of petroleum each year with cleaner burning, renewable fuel that is safe, seamless and improves fuel efficiency throughout the state…
Interestingly, New York City regulators have also been considering broader biodiesel mandates for their municipal vehicle fleets earlier this year. While no official plans have been announced, city officials are reportedly planning a move from a B5 fleet to a B20 fleet and even considering public biodiesel requirements that could impact private companies…
With a population of 19.57 million in 2012, New York State’s 30 million gallon increase in biodiesel demand equates to about 1.5 gallons per person per year. These metrics suggest that a nationwide heating fuel program along the same lines could represent an additional 471 million gallons of demand per year, given the U.S. population in the year 2012.
The article goes on to say some of the companies you might want to consider when investing in biodiesel includes Renewable Energy Group Inc., Green Plains Renewable Energy Inc., and Methes Energies International Ltd.