The U.S. House of Representatives has reversed direction from just a week ago and approved 263-171 the Senate’s version of the $700 billion bill to fix the nation’s financial crisis.
And this story from Reuters says incentives for biodiesel, wind and solar are also the big benefactors from the vote:
Legislation to extend the renewable energy tax credits, which were set to expire at the end of the year, had been stalled by a dispute between the House and the Senate over how to pay for the tax breaks.
However, attaching the energy tax credits to the economic rescue package gave them new life.
The legislation extends for one year the production tax credit for wind energy, with an eight-year extension for investment tax credits for businesses and homeowners to install solar energy equipment.
Buyers of plug-in electric cars would receive tax credits ranging from $2,500 to $7,500.
The bill also extends a $1 per gallon production tax credit for biodiesel through 2009. This measure closes a “splash and dash” loophole where companies mixed foreign biofuels with U.S. biodiesel to receive the U.S. subsidy, but then sold the fuel at a discount to European markets.
Major U.S. pipeline company 
As some folks call for more offshore drilling of non-renewable petroleum, a place known for its beautiful beaches is looking to biodiesel as an alternative to drilling platforms breaking up that breath-taking views.
The world’s leading producer of camelina… a non-food oilseed… is teaming up with the University of North Dakota to produce biodiesel jet fuel from the grain.
Here at Davis Debate Central once again tonight… OK, so it’s just my couch as I blog with my laptop on my lap and watch the Vice Presidential debate… as Democrat Sen. Joe Biden and Republican Gov. Sarah Palin duke it out.
POET became the largest producer of ethanol in Ohio this week with the grand opening ceremony for their second ethanol production facility in Fostoria. POET Biorefining – Fostoria is POET’s 25th ethanol plant.
“It is always an exciting day when we can open another facility such as this that helps expand the ethanol industry,” said Ryan Hunter-Reay. “The industry has made great strides in the last few years and I am proud to be associated with it.”
Not only is the fuel they sell green, but a new biodiesel and ethanol station near Lake Tahoe, Nevada will be good for the environment as well.
The fueling station is unique in that it has applied for LEED silver certification, a prestigious green building designation. Features include outdoor lighting that uses LED bulb technology, which reduces energy consumption up to 70 percent and reduces light pollution in the night sky. Solar tubes were installed in the restrooms to eliminate the need for daytime lighting along with flush toilets that reduce the amount of water consumed per use. Furnishings include cabinets made of fast-growing bamboo plywood and recycled countertops.
“My administration will reduce the price of food by eliminating the subsidies for ethanol and agricultural goods,” McCain told an invitation-only group at the Harry Truman Library in Independence, Missouri. “These subsidies inflate the price of food, not only for Americans but for people in poverty across the world, and I propose to abolish them.”
A hot rod built to run on hydrogen is expanding its horizons to run on another green fuel… ethanol.