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Last month I discussed the policy reasons for U.S. merchant refiners' heavy investments of late in renewable diesel production capacity. That expansion, which is being largely driven by merchant refiners such as CVR Energy (CVI), HollyFrontier (HFC), Marathon Petroleum (MPC), Phillips 66 (PSX), and Valero Energy (VLO), will see total U.S. capacity increase by almost an order of magnitude through 2023 (see figure). Even giant Exxon Mobil (XOM) has been getting involved, albeit from the feedstock side, with its continued joint venture to