RFS credit selling prices (i.e., renewable identification number [RIN] selling prices) were obtained from the EPA. LCFS credit prices were obtained from the California Air Resources Board. Because the CFR was only established in 2022, the credit market is nascent and no price information is available. LCFS credit prices were used to estimate the CFR-induced price differential due to the relative similarity of the programs. The ranges of credit selling prices from the years 2014 through 2023 (adjusted to 2023 dollars, detailed in SI Table ) were used to calculate the price differentials. between obligated parties with surpluses and deficits, and this trading creates a RIN market that determines the selling price. The extra profits from sales of RINs are meant to incentivize the production of biofuels, with the overall purpose of the RFS program being to reduce the greenhouse gas emissions associated with transportation fuels. In actuality, the RIN market has been extremely volatile and production goals for biofuels from cellulosic feedstocks have never met RFS mandates. The majority of biofuel produced for RFS compliance has been ethanol from corn grain, which has dubious environmental benefits. The RFS is unique among the three programs considered here in that, for a given feedstock and fuel production pathway, it categorizes fuels based on their achievement of CI reduction thresholds rather than their actual, producer-specific CI (Table ). For example, all ethanol produced from cellulosic feedstocks is considered to achieve a 60 percent reduction in CI compared to gasoline. These thresholds are based on LCAs performed by the EPA. The EPA states that its feedstock analyses are "country-neutral" and apply regardless of the growing practices used at individual farms because the environmental impacts of feedstock production "are likely to be the same regardless of which farm grows the specific feedstock used for biofuel production." However, critiques of the RFS cite this threshold-based system as not properly incentivizing the production of biofuels that achieve a greater reduction in CI (i.e., because two cellulosic biofuels that achieve a 60% reduction and a 80% reduction, respectively, are considered identical in terms of program compliance).