US Farmers Edged Out by Brazilian Beef Fat Destined for Biofuels [BNN Bloomberg (Canada)]
Marathon Petroleum Corporation (MPC)
Last marathon petroleum corporation earnings: 1/29 06:30 am
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ir.marathonpetroleum.com
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Source: BNN Bloomberg
American purchases of Brazilian cattle tallow, a form of waste fat, climbed 377% in the first four months of 2024 from a year earlier. Brazil has accounted for nearly all the 40% increase in overall tallow shipments into the US in the period. US fuelmakers, including Diamond Green Diesel LLC and Marathon Petroleum Corp., are turning overseas for cheaper raw materials that will help boost their margins. Renewable diesel made from waste fat or used cooking oil has a lower carbon score than soy oil and therefore gets higher tax credits in California, where a large part of US green diesel currently is consumed. “As long as the rules are the way they are these biofuel companies are going to use whatever is cheapest,” said John Baize, an independent analyst who also advises the US Soybean Export Council. A bigger federal tax credit will also start next year, with tallow and used cooking oil generally more lucrative feedstocks than vegetable oil made with US soy. Brazil is capitalizin
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MPC
News
- U.S. crude imports touch two-year high despite lukewarm demand [Yahoo! Finance]Yahoo! Finance
- Declining Stock and Solid Fundamentals: Is The Market Wrong About Marathon Petroleum Corporation (NYSE:MPC)? [Yahoo! Finance]Yahoo! Finance
- Marathon Petroleum (MPC) Advances While Market Declines: Some Information for Investors [Yahoo! Finance]Yahoo! Finance
- Marathon Petroleum Co. (NYSE: MPC) had its price target lowered by analysts at Mizuho from $203.00 to $201.00. They now have a "neutral" rating on the stock.MarketBeat
- Franklin Mountain Co-founder Paul Foster Steps Down as ERCOT Board Chair [Yahoo! Finance]Yahoo! Finance
MPC
Earnings
- 4/30/24 - Beat
MPC
Sec Filings
- 5/13/24 - Form 8-K
- 4/30/24 - Form 10-Q
- 4/30/24 - Form 8-K
- MPC's page on the SEC website