Susan Bell

S&P Global

Director, Americas Refining & Marketing

Ms. Bell is responsible for short and long-term refined product supply, demand, price and margin outlooks, and detailed downstream market research for Canada and the US. Since joining S&P Global, she has been involved in refined product market and price/margin forecasting, plus analysis of existing and emerging low carbon fuels programs. Prior to joining S&P Global, Ms. Bell was an independent oil industry consultant advising clients on crude oil and product markets. She developed her expertise working for Imperial Oil in its refining division, Cenovus (formerly Encana) in oil sands market development, Equinor (formerly Statoil) in strategic planning and business development, and Purvin & Gertz as an oil industry consultant. Ms. Bell holds a B.Sc. in Chemical Engineering from the University of Alberta.

Sessions With Susan Bell

Tuesday, 8 March

  • 11:40am - 12:30pm (CST) / 08/mar/2022 05:40 pm - 08/mar/2022 06:30 pm

    How Are Low-carbon Fuel Standards Delivering?

    Panel Downstream/Midstream/Chemicals
    California implemented its Low Carbon Fuel Standard (LCFS) in 2010 with the goal of reducing gasoline and diesel fuel GHG intensity 20% below 2010 levels by 2030. Since then, the Canadian province of British Columbia (2013), the state of Oregon (2016), and most recently Brazil (2020) have implemented similar programs. The Canadian federal government plans to implement a clean fuel standard in 2023 while several US states plan to enact legislation. In its “Fit for 55” package, the European Union also appears to be moving toward an LCFS of sorts, by changing targets to a GHG-reduction basis. These programs place a market-based price on lifecycle GHG emissions. The programs are designed to deliver real and measurable reductions through a variety of compliance options, but are they delivering results? Are GHG emissions declining because of these programs or are emissions simply being shifted from one sector to another? Do these regulations adequately address carbon leakage or indirect emissions? Are price signals driving the right behavior? What are the risks of unintended consequences?