Let’s wait and see if Rodeo will be capable to be a decent rival to Neste. One thing is to shout about the plans, another thing is to deliver results.
Valero & Darling ingrediends (Diamond greens) already produces and sells RD & SAF. And atm they are true rivals to Neste. But they are not doing very well if looking at their margins. I used to read one good article which explained why it will be tough to compete with Neste for Diamond greens: Its about feedstock they use. They use soybean oil which is more pure but more expensive. My guess that Rodeo will produce RD from soybean oil too. And to make RD from shit, with apologies, like Neste does you need to have a know-how.
Overall, competitors is a good think. Allows to improve continuously.
I personally have more than 25% of my portfolio in Neste and I am about to add 7-10% more.
And I will hold Neste for long. Will sell only when the company says that it can’t meet ROCE >15% target. Then I will sell everything.