Fuel Oil News October 2024 | Page 12

U . S . renewable diesel imports by port and country of origin ( Jan 2023 – May 2024 ) thousand barrels per day

destination from Singapore from Netherlands

Los Angeles , California

San Francisco , California

Portland , Oregon

rest of U . S .

2024 total 2023 total

0 5 10 15 20

Data source : U . S . Energy Information Administration , Petroleum Supply Monthly Note : Rest of U . S . imports went to Perth Amboy , New Jersey , and Atlanta , Georgia , in the first five months of 2024 and went to Newark , New Jersey , and Houston , Texas , in 2023 .

the first five months of 2024 than in the same period last year . The increase in imports was likely driven by increased :

• Production capacity at Neste ’ s Singapore plant following its expansion in mid-2023

• Renewable diesel storage capacity at Vopak ’ s terminal in Los Angeles , California

So far in 2024 , 18,000 b / d of the 30,000 b / d of imported renewable diesel have gone to Los Angeles , an increase from 2023 ’ s annual average of 13,000 b / d , according to our company-level import data . The increase in terminal capacity in Los Angeles has likely underpinned the growth in imports to that port in 2024 .

Renewable diesel imports arriving in San Francisco , California , have decreased slightly , while imports increased slightly in 2024 to Portland , Oregon ; Atlanta , Georgia ; and Perth Amboy , New Jersey . Neste ’ s Singapore plant has supplied 96 % of U . S . renewable diesel imports so far in 2024 , and its Rotterdam plant has supplied the remaining 4 %. The ratio was similar in 2023 , but Neste ’ s Finland plant also supplied some renewable diesel last year .

Imports of biomass-based diesel — a category that includes both renewable diesel and biodiesel — have made up a larger-thannormal portion of U . S . consumption . In the first five months of 2024 , imported biomass-based diesel supplied about 20 % of U . S . biomass-based diesel consumption , compared with about 15 % in 2023 and 10 % in 2022 .

350 300 250 200 150 100 50 consumption

imports

Data source : U . S . Energy Information Administration , Petroleum Supply Monthly Note : Biomass-based diesel includes biodiesel and renewable diesel .

90 % 80 % 70 % 60 % 50 % 40 % 30 % 20 % 10 %

12 OCTOBER 2024 | FUEL OIL NEWS | www . fueloilnews . com

ENERGY SPENDING INCREASED BY MORE THAN 20 % IN 2022

In 2022 , energy expenditures — or the amount of money U . S . consumers spent on energy — increased 22 % from 2021 to more than $ 1.7 trillion when adjusted for inflation , according to our State Energy Data System ( SEDS ). More money was spent on energy in the United States on an inflation-adjusted basis in 2022 than in all but two years in our records . Higher U . S . energy prices in 2022 compared with 2021 , particularly higher petroleum prices for transportation , caused most of the increase in total U . S . energy expenditures .

Petroleum and natural gas prices were relatively high in 2022 in part due to Russia ’ s full-scale invasion of Ukraine . Prices have since fallen as global energy markets have adjusted to new trade patterns for crude oil and natural gas production has set new records in the United States .

$ 1.4 $ 1.2 $ 1.0

$ 5 $ 4 $ 3 $ 2 $ 1

Data source : U . S . Energy Information Administration , State Energy Data System Note : GDP = gross domestic product

Our energy expenditures data represent the total amount of money spent in the United States by end users of petroleum products , electricity , natural gas , and other fuels in the residential , commercial , industrial , and transportation sectors combined . We calculate expenditures as energy consumption multiplied by the average price paid by end users for those fuels .

In 2022 , U . S . inflation-adjusted energy expenditures per capita increased 22 %, totaling $ 5,200 . Alaska had the highest per-capita energy expenditures at $ 13,100 , followed by Wyoming at $ 11,200 . The three states with the lowest per-capita energy expenditures were New York at $ 4,100 , and Maryland and Florida at $ 4,000 . The District of Columbia had the lowest energy expenditures per capita at $ 3,900 .

Per-capita U . S . energy expenditures on an inflation-adjusted basis were higher in 2022 than in all but eight years in our records . U . S . energy expenditures accounted for 6.7 % of nominal gross domestic product ( GDP ) in 2022 , compared with 5.6 % in 2021 . Energy expenditures as a share of GDP compares the total amount of money spent on end-use energy in the United States to the value of all goods and services in the U . S . economy . U . S . end-use energy expenditures for petroleum totaled $ 1 trillion in 2022 , a 29 % increase from 2021 when adjusted for inflation . The

10 % 8 % 6 % 4 % 2 %

Continued on page 29 .