The U.S. House Ways and Means Committee has extended the federal biodiesel tax incentive. The passage came with several other measures seen as critical to the sustained growth of the biodiesel industry.
The National Biodiesel Board (NBB) applauded the action in this press release:
Specifically, the Renewable Energy and Energy Conservation Act of 2007 includes:
* Extension of the biodiesel tax incentive through 2010. The provision is based on legislation introduced this year by Representatives Earl Pomeroy (D-ND) and Kenny Hulshof (R-MO).
* A provision authored by Rep. Lloyd Doggett (D-TX) to prevent large integrated oil companies from claiming the $1.00 per gallon renewable diesel tax credit. Absent this provision, taxpayers would subsidize existing oil refineries at the expense of stand-alone biodiesel and renewable diesel producers who add to America’s limited refining capacity.
* The closing of the so-called “splash and dash” loophole. This would stop foreign biodiesel producers from shipping their product bound for foreign markets through the U.S. for the sole purpose of claiming the U.S. biodiesel tax incentive.
The NBB did say it is concerned about a part of the bill that restricts U.S. producers from selling their product abroad.


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Agriculture Secretary Mike Johanns is disappointed with the 2007 Farm Bill he sees developing in the House Agriculture Committee for a number of reasons. One of them is lack of funding for cellulosic ethanol research.
Encouraging development of cellulosic ethanol is one of the main goals of the bi-partisan
Congressman Putnam said, “By jumpstarting the research and development on cellulosic ethanol, we think it can play a tremendous role in adding value to existing agricultural commodities.” 
Craig Floss is the CEO of the
Jeff Simmons, driver of the #17 Ethanol car for Rahal-Letterman Racing got his first laps on this track this afternoon.
You can see the interest