Bipartisan legislation introduced Thursday will help preserve jobs in the renewable energy industry and accelerate the development of cellulosic ethanol, according to its sponsors. The Renewable Fuels Reinvestment Act sponsored by Reps. Earl Pomeroy (D-ND) and John Shimkus (R-IL) unveiled legislation would extend the current Volumetric Ethanol Excise Tax Credit (VEETC), the Small Ethanol Producers Tax Credit and tariff on …
RFA Pleased with Bill to Extend Ethanol Incentives
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 …
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 …
Acres for Biodiesel, Ethanol Feedstocks to be Big
If the biodiesel makers ever get the $1-a-gallon federal tax credit back, the industry could have plenty of feedstock for the green fuel come fall. This Bloomberg article posted in the Wichita (KS) Eagle says U.S. farmers are expected to plant their largest soybean crop this year: Soybean plantings will rise 2.1 percent to 79.111 million acres from a record …
DF Cast: Ethanol & Biodiesel Talk of Commodity Classic
Since it was the biggest gathering of the year for corn and soybean growers, it’s only natural that Commodity Classic was also a good place to talk about the state of the ethanol and biodiesel industries, especially when you consider the two grains are still the biggest feedstocks for the biofuels. In this edition, we listen in on the conversation …
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 …