A strong Renewable Fuel Standard (RFS) and bringing back the $1-a-gallon federal biodiesel blenders tax credit has helped the Nation’s leader in biodiesel production set records. The Iowa Renewable Fuels Association says the state’s biodiesel plants cranked out a record 56.7 million gallons of biodiesel during the second quarter of 2013 and set a record for the first six months of a year with 99.5 million gallons of the green fuel produced this year.
“Record biodiesel production this quarter is providing a noticeable boost to Iowa soybean farmers and livestock producers,” stated IRFA Communications Director T.J. Page. “With a strong RFS and the biodiesel tax incentive helping to level the playing field against long standing petroleum subsidies, biodiesel is successfully competing in the marketplace. More locations are offering higher blends of biodiesel than ever before. We expect robust biodiesel production throughout 2013.”
Despite the good news, IRFA is concerned what will happen of the blender’s credit is allowed to expire at the end of this year.
“Given petroleum’s advantages in current federal policy, we have to protect the RFS and extend the biodiesel tax credit,” added Page. “Provided a fair chance, Iowa’s biodiesel produces can continue to set records and provide consumers with a clean, homegrown fueling option.”
The IRFA recently launched a campaign to show how biodiesel benefits Iowa’s farmers, www.MoreBforMe.com. Farmers could also win a prize of $1,000 in biodiesel.