After quite a bit of back and forth, the Senate Finance Committee finally included wind energy in the renewable energy Production Tax Credit (PTC) and Investment Tax Credit (ITC) tax extenders package out of committee this week. “We’re grateful to all the supporters of renewable energy on the Senate Finance Committee,” said Tom Kiernan, CEO of the American Wind Energy …
Advanced Biofuels in Tax Extenders Bill
The cellulosic biofuels industry was very pleased to see the Senate Finance Committee markup of a package of tax extenders that includes the Producer Tax Credit (PTC) and the special depreciation allowance for advanced biofuels. “The cellulosic biofuel industry is just breaking through at commercial scale. Today’s markup sends a clear signal to the marketplace that Congress is making progress …
Biodiesel Tax Incentive Moves Out of Committee
A measure that would renew the federal $1-per-gallon biodiesel tax incentive has cleared a congressional committee. The credit, which expired at the end of 2013, passed the Senate Finance Committee as part of a package of tax provisions. The news was welcomed by the National Biodiesel Board, which still appeared miffed it expired in the first place, as Congress let …
Hemp-to-Biofuels Research Gets Green Light
A crop that has had an undeserved stigma attached to it could now become a source for biodiesel and ethanol. The recently passed and signed Farm Bill contains a provision that would allow hemp to be grown for research purposes, including making it into the green fuels. “Hemp is a great crop for biodiesel, and we’ve already started experimenting with …
ASA Applauds Biodiesel Tax Credit in Package
Soybean growers are welcoming news of a couple of important measures moved forward in legislation for biodiesel. The American Soybean Association says a two-year extension of the dollar-per-gallon biodiesel tax incentive and a reinstatement of the pre-2014 expensing amounts for farm infrastructure and equipment under Section 179, both in the Senate Finance Committee Chairman’s Tax Extenders Package, are key issues …
ASA Concerned over Argentine Biodiesel for RFS
While Argentine biodiesel is having a hard time getting into Europe, its prospects to make it into the U.S. could be boosted. And that is worrying soybean growers in this country. This story from Agri-View says the Environmental Protection Agency (EPA) is considering whether it should allow Argentine biodiesel to be eligible under the Renewable Fuel Standard (RFS). The potential …
Prospective Plantings Down, But Corn Stocks High
This year’s corn plantings are expected to be down this year, but growers say there will be plenty of stockpiles for all needs, including ethanol. The latest U.S. Department of Agriculture figures show that American farmers expect to plant 3.7 million fewer acres of corn this year, down four percent from 2013. But the National Corn Growers Association says, don’t …
IRFA: Strong Plantings Report Calls for Strong RFS
Expected big plantings of corn and soybeans underscore the need for a strong Renewable Fuels Standard (RFS). New estimates from the U.S. Department of Agriculture (USDA) show a possible record amount of soybeans expected to be planted this year and the fifth largest corn acreage to be planted as well. The Iowa Renewable Fuels Association (IRFA) says these factors show …
EPA’s Feeling About RFS? Depends Who’s Asking
How does the Environmental Protection Agency (EPA) feel about its proposal to cut the amount of ethanol and biodiesel to be blended into the Nation’s fuel supply? Well, that depends on who the folks at the agency are talking to. Speaking before the House Appropriations Committee last week, EPA Administrator Gina McCarthy seemed to backtrack on last January’s statements before …
Sen. Thune Meets with Ethanol Supporters
A team of four biofuels supporters had the chance to meet with Sen. John Thune (R-SD) last week while in Washington DC for the American Coalition for Ethanol (ACE) Biofuels Beltway March. In an interview following that meeting, Thune talked about some of the issues facing the biofuels industry, in particular the EPA proposal to lower volume requirements under the …