Today U.S. Senators Jeff Merkley (D-OR), Tom Carper (D-DE), Tom Udall (D-NM) and Michael Bennet (D-CO) introduced the Oil Independence for a Stronger America Act today in an effort to eliminate dependence on foreign oil by 2030 and create a National Council on Energy Security that would be charged with providing recommendations to the President and Congress to ensure America’s …
More Ethanol Dialogue Needed
The ethanol industry is anxious to continue talks about the future of the Volumetric Ethanol Excise Tax Credit (VEETC) and how best to balance the budget while still ensuring the ethanol industry can move forward. Yet while many believe the Senate’s defeat of Sen. Coburn’s ethanol amendment opens the door for dialogue, others believe today’s action does little to move …
Coburn Amendment Quashed
In a vote of 40-59, Sen. Tom Coburn’s (R-OK) Amendment No. 436 to immediately eliminate the Volumetric Ethanol Excise Tax Credit (VEETC) and the tariff on imported ethanol was quashed. Coburn’s proposal needed 60 votes to move forward but fell short by 20 votes. Shortly after the news hit, the ethanol industry began calling for “real reform.” “The fight is …
Fuel Retailer Opposes Thune/Klobuchar Bill
Earlier today, Sens. John Thune (R-SD) and Amy Klobuchar (D-MN) created waves when they announced their new biofuels bill the Ethanol Reform and Deficit Reduction Act. This act is designed to address federal budget issues while phasing out ethanol tax incentives (VEETC) that are designed to go to the fuel blender of record. While the ethanol industry came out in …
Thune/Klobuchar Bill Endorsed by Ethanol Industry
Senators John Thune (R-SD) and Amy Klobuchar (D-MN) along with a bipartisan group of nine other Senate colleagues have introduced the Ethanol Reform and Deficit Reduction Act. The bill is designed to modify the current Volumetric Ethanol Excise Tax Incentive (VEETC), which is a set tax, to a variable tax incentive tied to the price of oil. To help open …
Ethanol Industry Criticizes Coburn
The ethanol industry is criticizing Sen. Tom Coburn’s (R-OK) amendment to eliminate the Volumetric Ethanol Excise Tax Credit (VEETC) immediately. During the past few months, the ethanol industry has acknowledged that the time is near for the tax credit to be phased out and has offered bipartisan plans to phase out VEETC over the next five years. Growth Energy has …
Propane Green Autogas Solutions Act Proposed
The Open Fuel Standard is not the only piece of fuel legislation that has been proposed recently. On May 27, 2011, the Propane Green Autogas Solutions Act was introduced to the House of Representatives and Senate by House Republican Conference Secretary Representative John Carter (R-TX) along with Senator Ben Cardin (D-MD). The bill aims to extend existing propane autogas tax …
AEC Supports Domestic Energy Promotion Act
Iowa Senator Chuck Grassley along with a bipartisan group of senators, announced a proposed piece of legislation to promote the development of biofuel infrastructure. The Domestic Energy Promotion Act of 2011 would transition the current blender’s credit to a variable tax credit based on the price of oil, improve tax incentives for blender pumps and ethanol refueling infrastructure, and extend …
Iowa Biodiesel Board Applauds Iowa Biodiesel Bill
As reported yesterday by Cindy, there was big news in Iowa for the biodiesel industry. The state passed one of the most comprehensive biodiesel fuel policies in the U.S. that creates a system that incentivizes local production, encourages availability of biodiesel at the pump, and invests in the infrastructure needed for wide distribution. The renewable energy bill is known as …
33% of California Electricity to Come From Renewables
California has made yet another move for renewable energy. Last week, Gov. Jerry Brown (D-CA) signed S.B.2X. This new law requires 33 percent of all electricity generated in the state to come from renewable resources by 2020. Apparently concerns over the growth of renewable sources in the state mobilized last year under Prop 23 was not a deterrent to increase …