California re-adopts LCFS; active market expected

摘要

Washington—The California Air Resources Board on Friday unanimously re-adopted the state’s first-in-the-nation Low Carbon Fuel Standard through 2020, accelerating the program’s greenhouse-gas reduction targets after having frozen them for the last few years. The LCFS requires refiners to progressively reduce the life-cycle carbon intensity levels of transportation fuels sold in the state, either directly through running cleaner crudes or by purchasing credits from alternative fuels producers.