National Biodiesel Board reacts to the Providence Resolution
NBB CEO Donnel Rehagen reacted positively to the fuel industry's resolution at the NEFI HEAT Show in Providence, RI last week, writing the following to his members:
I want to share some exciting news from our friends in the heating oil industry that has been in the development stages for some time. Last week during the HEAT Show in Rhode Island, the heating oil industry committed to a resolution to reach net-zero emissions by 2050.
This is a significant market signal, and opportunity for growth, for Bioheat® fuel. The Northeast heating oil industry currently delivers approximately 5 billion gallons of heating fuel to more than 5 million homes and businesses across the region annually — 80% of the national heating oil market. In order to reduce emissions to these levels, biodiesel will become an ever-increasing component of the marketplace. While there may be some logistical challenges with supplying the region with increasing volumes of biodiesel through the current infrastructure in the Northeast, the gradual ramp-up will give our industries the ability to adapt over time.
The full resolution reads:
"Be it resolved that the heating oil industry will reduce its greenhouse gas emissions, based on 1990 levels, by 15 percent by 2023; 40 percent by 2030; and Net-zero by 2050.
"Be it further resolved that industry groups participating in and present for this summit, including NEFI, the various state associations, and NORA, will work together to do all that is necessary to achieve these goals." I'm excited to continue working with our partners in the heating oil industry as they continue the transition to a zero-carbon liquid fuel industry. We have worked alongside some great leaders to get to this point and it is clear to me that our industries will grow ever-closer in the coming years as the heating industry migrates away from petroleum to, eventually, 100% renewable fuel. Their vision and decisive action should be commended. Our industry has a tremendous opportunity in front of us in the Northeast and this resolution solidifies biodiesel's role as the future of home heating.
For more on the resolution, including industry reactions, visit the New England Fuel Institute website and mybioheat.com.
Donnell M. Rehagen
Chief Executive Officer
National Biodiesel Board