Oregon CFP Q2 '24 Highlights
Oregon Net Credit Generation & Bank
Oregon’s Clean Fuel Program Q2 data showed a net credit generation of 126k MT bringing the bank to 1.44 million MT.
Oregon Actual CI Reduction
Actual CI reduction within the quarter was in tandem with Q1 2024 at 9.4% in Q2 vs 9.6% in Q1.
The ‘Following Big Brother’ theory remains for Oregon as the CFP program in its first 8 years has seen the same trend as what was observed in California during 2013-2021.
It wasn’t until recently where there was major separation in quarterly CI reductions observed in the back half of the year. Although the credit bank is building and will likely continue to build throughout the year. More low carbon fuel volume will be needed to hit the 2025 target of 10% which increases 2% per year to a 2030 target of 20%.
