Clean Fuels America CEO Donnell Rehagen
Lacking guidance from the U.S. Treasury, the one-year extension of existing policy is needed to provide certainty and stability to stakeholders in the biodiesel and renewable diesel industry.
“Due to the significant uncertainty created by this lack of guidance, American clean fuel producers and their partners in agriculture and fuel marketing are facing tremendous confusion in the marketplace,” the groups write. “It is therefore critical that Congress provide a temporary, short-term extension of the existing 40A blenders credit to allow the necessary transition and a smooth integration of the new credit into business plans.”
The future of the 45Z tax credit and the continuation in general of the Inflation Reduction Act will largely be in hands of the new Trump administration. Clean Fuels American CEO Donnell Rehagen says they are looking forward to working with them.
“We’ve experienced a Trump administration before,” said Rehagen. “We saw considerable growth in our industry during those times but it wasn’t without its challenges. Obviously there’s a lot of competing interests in any administration. But that’s been a long time ago. And I think there’s been a lot of developments in the country. Consumers are much more focused on cleaner fuels in the climate and certainly than they were eight or ten years ago.”
During an interview at the NAFB Convention last week, Rehagen also commented on President-elect Trump’s pick for EPA Administrator Lee Zeldin of New York. “I mean, he’s not been a huge fan of the Renewable Fuel Standard, but as I said, it’s been a long time ago that those efforts to reform the RFS were taking place,” said Rehagen. “So we’re gonna go into this with our eyes wide open, our ears wide open as well, and have a great conversation with him and we’ll kick things off well.”
NAFB24 Donnell Rehagen, Clean Fuels