The Renewable Fuels Association today praised the Renewable Fuels Reinvestment Act (RFRA) introduced by Representatives Earl Pomeroy (D-ND) and John Shimkus (R-IL). The bill would extend the $0.45 Volumetric Ethanol Excise Tax Credit (VEETC), commonly called the blenders’ credit, and the secondary tariff on imported ethanol until December 31, 2015. It would also extend the Small Producers Tax Credit and …
Lawmakers to Introduce Extension of Ethanol Tax Incentives
Representatives Earl Pomeroy (D-ND) and John Shimkus (R-IL) have called a press conference today to introduce the Renewable Fuels Reinvestment Act (RFRA). The bill would extend the $0.45 Volumetric Ethanol Excise Tax Credit (VEETC), commonly called the blenders’ credit, and the secondary tariff on imported ethanol, as well as the Small Producers Tax Credit and the Cellulosic Ethanol Production Tax …
Virent and Shell Open Biogasoline Pilot Plant
Virent Energy Systems of Wisconsin and Shell yesterday announced the successful start of production at the world’s first demonstration plant converting plant sugars into gasoline and gasoline blend components as an alternative to ethanol. The plant is located in Madison, Wisconsin and is the latest step in a joint biogasoline research and development effort, announced by both companies in March …
NY Senator Supports Biodiesel Not Ethanol
U.S. Senator Chuck Schumer (NY-D) visited New York’s only commercial biodiesel producer last month to assure them of his support for the federal tax incentive for biodiesel. “The dollar tax incentive assures us that we are competitive with regular diesel fuel right now. The federal government subsidizes the petroleum industry as well, so if we lose our incentive, we lose …
New Ethanol Blender Pump Introduced
Now that Underwriters Laboratory has approved the use of certain pump dispenser models for mid-level ethanol, the door is open for manufacturers to begin marketing them more aggressively. This week, Gilbarco Veeder-Root announced the release of a new dispenser in the Encore® S fuel dispenser product line that offers four fuel products at the same fueling position – regular unleaded, …
New Biofuel in American Le Mans Series
A new biofuel mix will be making its debut in the American Le Mans Series this weekend – isobutanol and ethanol. The “Global Leader of Green Racing” announced earlier this week that Dyson Racing, with cooperation from partners BP and Mazda, will campaign its Mazda-powered Lola B09/86 LMP2 coupe on isobutanol for the full 2010 season. Chris Dyson, Guy Smith …
Ethanol Producer Emerges From Bankruptcy
Aventine Renewable Energy officials expressed optimism about the future for ethanol this week as they emerged triumphant from bankruptcy. The Pekin, Illinois-based ethanol producer announced its successful emergence from Chapter 11 restructuring on March 15, naming Thomas Manuel as the company’s new Chief Executive Officer and Chief Operating Officer. “Emerging from bankruptcy with good liquidity, modest debt and lower overhead …
Ethanol Tax Incentive Loss Would Mean Lost Jobs
According to a report out today from the Renewable Fuels Association (RFA), failure to extend the Volumetric Ethanol Excise Tax Credit (VEETC) would reduce U.S. ethanol production capacity by 38% and eliminate 112,000 jobs in rural communities already hemorrhaging employment opportunities. “Ethanol has provided an unparalleled, value-added opportunity for agriculture and rural America,” said RFA President Bob Dinneen. “Supporting nearly …
Hawaiian Biofuels Firm Building Tennessee Plant
A Hawaiian biofuels firm recently announced an agreement to build a commercial scale biorefinery facility in Tennessee for the production of renewable jet or diesel fuel out of wood. Under the agreement between ClearFuels Technology of Aiea, Hawaii and Hughes Hardwood International of Collinwood, Tennessee, 1000 tons of wood product per day will be converted into approximately 16 million gallons …
RFA to Release Report on Cost of Ethanol Blenders Incentive Loss
The Renewable Fuels Association (RFA) is set to release a new report today warning about the economic ramifications of allowing the tax incentive for ethanol blending to expire at the end of the year. In a preview obtained by Domestic Fuel, allowing the Volumetric Ethanol Excise Tax Credit (VEETC) to expire would cost the country more than 100,000 jobs and …