The National Biodiesel Board is applauding Congress for coming up with a compromise on the Farm Bill today that contains a provision that renews the Commodity Credit Corporation (CCC) Bioenergy program.
In this press release, the NBB calls the legislation key to reducing dependence on foreign oil:
“The National Biodiesel Board thanks all the Senators and Congressional leaders who have worked hard to include provisions for biodiesel and the CCC Bioenergy program,” said Joe Jobe, National Biodiesel Board CEO. “These leaders are correct in describing this farm bill as a key element in America’s energy solution. I applaud these leaders in moving the bill and recognizing that agriculture plays an enormous role in America’s energy solution.”
The CCC Bioenergy program provides support to biodiesel producers to help offset the costs of the feedstock used to produce biodiesel. Over the past year, feedstock costs have doubled, reaching record highs and making it difficult to economically produce the fuel. The $300 million provided for the CCC Bioenergy program in the Farm Bill will help bring some stability to the industry so that biodiesel can continue to add to the nation’s fuel supply.
But the measure is far from a done deal. Word is the White House is unhappy with provisions of the bill that would allow some farmers making up to $2.5 million in household income still qualify for crop subsidies and will veto the measure.