Double tax credit for Renewable Energy?????

Thanks to a reader for this tip just coming out of Washington. The mixing credit for Biodiesel is now $1 a gallon. Chance it could go to $2??? Greenshift sells both blended and non-blended fuel. When they sell to blenders the credit is accounted for in the price. But they are also certified blenders themselves.

But SkunK - not a big deal - its only an extra BUCK!!

Only a Buck huh?? Let's do a little math. 13 Coes operating at full capacity on 30 November would be at a rate of over 19mmgy/year. If the economies remain that Greenshift can make money without the credit - then two dollars a gallon blenders credit could add $38M not only to revenue - but to the bottom line.

This from the 19 Dec 8-K:

The Company also sells blended biodiesel fuel to buyers not certified as blenders with the IRS. Sales of blended fuel to such customers are also based on market prices. Upon the sale of blended biodiesel fuel, the Company (not the buyer) may be eligible to collect certain amounts under federal incentive programs (currently $1.00 per gallon).

For the nine months ended September 30, 2008, . . receipts from this source was $832,513.
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Jan. 12 (Bloomberg) -- President-elect Barack Obama is making “significant” changes to his economic stimulus program, such as boosting energy tax incentives, after members of his own party called elements of the plan inadequate.

Senator Maria Cantwell, a Washington Democrat, said Summers showed a willingness to double tax credits in the bill for renewable energy to more than $20 billion.

Senate Budget Committee Chairman Kent Conrad, a North Dakota Democrat who sought more funds for energy programs, said yesterday, “There is going to be a much greater commitment of funds to projects that reduce our dependence on foreign energy.”

http://www.bloomberg.com/apps/news?pid=20601070&sid=a.v7wS1tTE20&refer=politics#