President Obama held a public signing ceremony for the tax bill passed by Congress this week that delivers early Christmas presents for everyone. Among those in attendance at the signing were some 150 members of Congress, administration officials and key stakeholder and advocates who worked to pass the bill, including representatives from the ethanol industry. Both Renewable Fuels Association president …
House Passes Tax Bill with Biofuel Incentives
Congress burning the midnight oil passed the tax cut legislation that will help the United States burn less foreign oil. The final vote was 277-148 on the Middle Class Tax Relief Act of 2010 (H.R. 4853) that now goes to the president’s desk to be signed into law. Despite opposition from some Democrats the bill passed without any changes. In …
Ethanol Report on Senate Passage of Tax Bill
In this edition of “The Ethanol Report” we get reaction from Renewable Fuels Association president and CEO Bob Dinneen on the passage by the Senate of the compromise tax package that includes a one-year extension of important tax incentives for ethanol production and use. Dinneen says they are thrilled with passage of the measure, which gives some stability to the …
Senate Passes Tax Package
The Senate has overwhelmingly passed what is likely to be an early Christmas present for everyone, including renewable energy interests, with tax credits for ethanol and biodiesel extended for another year. The vote was 81 to 19 to pass the bill, which was primarily to extend both unemployment benefits and the Bush era tax cuts. The House is expected to …
Minnesota Stations Offer Frequent Ethanol User Cards
Three fuel stations in Minnesota are now offering drivers of Flex Fuel Vehicles (FFVs) a chance to save money with frequent ethanol user cards. The Meadowland C-Store Cenex in Wabasso, Meadowland Farmers Coop in Lamberton and Country Pride Services in Windom are providing frequent fuel punch cards (one per household) to the first 50 flex fuel vehicle drivers starting today. …
Familiar Face Goes to Work for Protec Fuel
A familiar face in the ethanol industry, and a familiar name here on Domestic Fuel, is now working for Florida-based Protec Fuel. Michelle Kautz has been hired as the company’s Public Relations/Development Director to manage Protec’s marketing and public relations programs along with coordinating sales efforts targeted at fuel distributors and retailers. Kautz has been working in the ethanol industry …
DOE Offers Funding for Next Generation Biofuels
The U.S. Department of Energy is now accepting applications for up to $30 million in total funding for small-scale process integration projects that support the development of advanced biofuels that will be able to replace gasoline or diesel without requiring special upgrades or changes to the vehicle or fueling infrastructure. “Developing the next generation of American biofuels will enhance our …
Sen. Grassley Defends Ethanol Tax Credit
During his Tuesday morning press call with agriculture reporters, Sen. Chuck Grassley (R-IA) once again defended the tax credit for ethanol being extended in the tax bill poised to be passed by the Senate. “Extension of both the ethanol credit and tariff have garnered a great deal of attention,” Grassley said. “It’s easy to see that ethanol has proved its …
Ethanol Tax Incentive Cost Perspective
The cost of extending the ethanol blenders tax credit for another year is well worth it, according to the Renewable Fuels Association. Extending the Volumetric Ethanol Excise Tax Credit (VEETC) is estimated to cost about $6 billion dollars in 2011 at the current rate in the Senate bill of 45 cents per gallon. The United States spends about $750 million …
Ethanol By the Numbers
U.S. exports of ethanol remained strong in October at 34.9 million gallons, according to the latest government information, with the total of January-October at a record high 286 million gallons. The current forecast is for the U.S. to export more than 325 million gallons of ethanol this year, more than double the previous record of 158 million gallons in 2008. …