Passage of the federal tax bill and sending it to President Obama for his signature is being welcomed by many in the renewable energy field, especially the biodiesel industry. The nation’s largest biodiesel producer, Iowa-based Renewable Energy Group, had quick praise for the approval, which retroactively renews the year-long expired $1-a-gallon federal biodiesel tax incentive: “The reinstatement and retroactivity of …
Biodiesel Tax Incentive Clears Cloture; NBB Optimistic
The federal $1-a-gallon biodiesel blenders credit has cleared an important legislative hurdle, and the National Biodiesel Board is optimistic it will become law. Earlier today, the U.S. Senate voted to end debate (invoking cloture) on the package of tax credits, including the biodiesel incentive, by a bipartisan 83-15 margin. As the vote was going on, I talked to the NBB’s …
Loss of Tax Break Prompts Dumping of Biodiesel Plant
The loss of the federal $1-a-gallon biodiesel tax incentive is part of the reason a green energy company has decided to give its biodiesel plant to creditors. The Dallas Morning News reports that GreenHunter Energy Inc. made the move to give its Houston biodiesel plant to its debt holders to avoid being delisted by the New York Stock Exchange: GreenHunter …
AFBF: Lame Ducks Could be Pretty Lame for Ethanol, Biodiesel
The American Farm Bureau Federation isn’t expecting too much from the lame duck session of Congress, particularly when it comes to renewal of the federal biodiesel and ethanol tax credits. “I think the lame duck session will be pretty lame,” said Mary Kay Thatcher, Director of Policy at AFBF, during an interview with our own Cindy Zimmerman during the recent …
Lame Ducks Could Renew Biodiesel, Ethanol Tax Breaks
Groups that represent the biodiesel and ethanol industries in this country believe when Congress comes back to Washington after the election … for what is known as the lame duck session … members could renew the pending federal $1-a-gallon biodiesel tax credit and the Volumetric Ethanol Excise Tax Credit (VEETC). Michael Frohlich, Director of Federal Communications for the National Biodiesel …
Proposed Pennsylvania Tax Threatens Biodiesel
A bill pending before the Pennsylvania State Legislature could hurt the biodiesel industry in that state. Biodiesel Magazine reports an amendment to SB 901 would slap some new fuel taxes on places that sell biodiesel and could affect selling and blending biodiesel in surrounding states: The amended legislation establishes a total of four of these registration fees: – $5,000 for …
Biodiesel Board Urges Tax Credit Passage Before Break
It won’t be long before Senators and Representatives go back home to do what they seem to do best, or at least, the most: work on getting re-elected. But before they head out of D.C. for the break (right now, scheduled for October 8) before the November elections, the National Biodiesel Board (NBB) and the Advanced Biofuels Association (AFBA) are …
All You Need To Know About U.S. Ethanol Subsidies
Ever wonder what would happen if the ethanol subsidy disappeared? Well, today UNICA answers that question in their new video, “All I Need to Know About U.S. Ethanol Subsidies,” that explains to taxpayers how Congress could save them $6 billion per year and help lower prices at the pump. For consumers to reap these savings, all lawmakers have to do …
Biodiesel Incentive Shot Down Again; Dem Calls it “Stunt”
The federal $1-a-gallon biodiesel tax credit failed to move forward yet again today, as one of the top Democrats in the U.S. Senate dismissed the effort as a “stunt.” The Senate defeated Sen. Charles Grassley’s (R-IA, pictured on right) attempt to retroactively revive the credit as part of a small business bill by a vote of 41-58… far short of …
Lack of Biodiesel Incentive Closes Another Plant
Just in case you forgot (fat chance of that!), the federal $1-a-gallon biodiesel tax incentive has not been renewed after expiring at the end of 2009. And an estimated 23,000 biodiesel workers (and counting) have been laid off nationwide. The latest victims are workers at a biodiesel plant once touted as the largest in New England. This Times Argus article …