Earlier this week, the California Air Resources Board (CARB) announced that LCFS changes would be considered at a November 8th public hearing. The hearing was originally scheduled for March but was canceled after significant stakeholder pushback on the reforms proposed in December 2023. Agency staff instead held a workshop last month to present updated modeling and hear additional feedback.
The agency will publish revised rulemaking language in the coming months. Notably, CARB indicated that the new proposal would include “a near term step-down in carbon intensity benchmarks of 7% or greater” in order to address the oversupply of credits.
LCFS pricing had fallen to just $40 on May 16 but rallied slightly following the CARB announcement. Pricing was heard around $47 as of May 21.
Tags: CA LCFS, California, California Air Resources Board, California Low Carbon Fuel Standard, clean fuel standard, clean fuels, lcfs