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Renewable Fuels Could Find Bipartisan Support Under Biden

Renewables are supported by some in both the oil and green energy industries

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Renewable fuels are a niche market for now, but with Democratic President-Elect Joe Biden set to enter office with a divided Congress, legislation supporting demand for products like renewable diesel could garner bipartisan support.

Reuters reports Biden has pledged to move the United States to a zero-carbon emissions scheme by 2050. Under a divided Congress, however, ambitious plans to tackle rising emissions may be put on ice.

Renewable fuels, however, may be different: their development is supported by some in both the oil and green energy industries.

Some refiners have been investing in cleaner fuels derived from feedstocks like cooking oil, taking advantage of state subsidies designed to reduce carbon emissions.

State and federal incentives could expand that market, giving energy companies revenue opportunities while reducing carbon emissions.

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