Todd Neeley has an excellent blog on the biodiesel credit - SEE HERE
The Senate has failed twice to pass a tax extenders bill that would renew the credit for this year.
Frohlich said that Senate leadership could break the bill apart, to allow for separate votes on individual proposals, or the Senate may move on energy legislation in July.
An energy bill could include a cap and trade climate change measure, which is opposed by agriculture.
(The Farmer, June 24, 2010)
There has been discussion about renewing the credit for the rest of 2010. However, the biodiesel industry has virtually shut down. Without a longer-term extension it would be difficult to restart production with only five months or so left on the blenders credit. That provides no long-term certainty. (Todd Neeley)
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SkunK Comment
Corn oil may be one of the few feedstocks that can still be profitable without the tax credit. However, this government payment of a dollar a gallon has spurred the industry. Loans were made and capital invested based on it. With all the talk of support for a clean economy and clean jobs - not being able to even continue a prior program that has bi-partisan support - is a terrible indictment of Federal leadership. It also hurts the credibility of all government supported programs. Haphazard, undependable support is worse than no support at all. Prior to this breakdown of trust a year to year deal was doable. Now only a multi year deal will bring the private investor back to the biodiesel industry.
SkunK
Monday, June 28, 2010
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2 comments:
Osama is a freaking joke. No experience, no leadership whatsoever...he's a puppet. He talks about biodiesel and the jobs that go with it but yet his democratic controlled congress let the credit as well as the jobs expire 7 months ago. He gets his photo op at that ethanol plant, but his EPA drags it's feet on the E15 waiver. Osama is all talk and no action. I just don't understand why he claims to be pro biofuels and anti pollution when people are losing their jobs due to inaction by the EPA and legislation while the ocean is still spewing millions of gallons of oil a day. People ragged on Bush for being an oil man but I don't recall any spills under his watch. He was the one that put these now expired credits in place.
Hope and change?
I hope he gets out of there 'cause he's changing everything for the worse.
OBAMA
One
Big
Ass
Mistake
America
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