The National Biodiesel Board (NBB) and several of its member companies are highlighting the plight of industry workers who are impacted by the uncertainty over the future of the biodiesel tax incentive.
“Because the biodiesel tax incentive has been expired for sixteen months, many companies are facing a very uncertain future. With the on-again, off-again nature of the credit, biodiesel companies are forced to build the credit’s value into contracts – and hope that Congress extends the policy at the end of the year,” said Kurt Kovarik, NBB Vice President of Federal Affairs. “Many companies have essentially priced their products at a loss for more than a year. The economic pressure of these losses while waiting on Congress to act is now threatening the future of the industry, putting jobs at stake. It is urgent that Congress act immediately to provide the biodiesel industry certainty for 2018 and 2019.”
Four biodiesel companies shared photos of their employees to show how many jobs are at stake. Chris Peterson, President of Hero BX in Erie, Pennsylvania, said, “Our employees are hardworking and industrious Americans, making a great-working green product. These blue-collar workers have committed to the biodiesel industry, finding jobs in the new green economy. It is unfortunate that members of Congress have not shown the same dedication to the industry by letting the lapsed credit situation continue.”
Other companies included Newport Biodiesel in Rhode Island, American GreenFuels in Connecticut, and Lakeview Energy in Missouri. With plants in nearly every state, the U.S. biodiesel and renewable diesel industry supports more than 60,000 jobs, paying more than $2.5 billion in annual wages and generating more than $11 billion in economic impact. Every 100 million gallons of biodiesel production supports 3,200 jobs.