Obama signs tax bill into law, extends VEETC
For the ethanol industry, it means a one-year extension for the Volumetric Ethanol Excise Tax Credit at 45 cents per gallon, the Small Ethanol Producer Tax Credit at 10 cents per gallons and the Secondary Tariff on ethanol imports at 54 cents per gallon—all current levels for 2010. The Renewable Fuels Association, Growth Energy and the American Coalition for Ethanol have said they will use the time to work on long-term policy reforms.
The biodiesel industry has even more to celebrate. That industry’s tax credit expired at the end of 2009 and biodiesel producers suffered multiple disappointments in the effort to get it extended. In the meantime, many biodiesel plants cut back on production or were standing idle, resulting in many lost jobs. Now, the tax bill extends the biodiesel tax credit through 2011, and makes it retroactively effective to 2010.
Ethanol Producer Magazine
SEE ALL HERE
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The SkunK promised to himself to try and not cover the daily ups and downs of this 18 month political saga. There were just too many ups and downs. (Even for a GERS' Junkie!) It finally passed as it should have a year and a half ago - before so many jobs were lost. Here is hope that one day we get a LONG TERM renewable energy policy where the industry can make logical long range plans and decisions.
Saturday, December 18, 2010
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5 comments:
I wonder if this will have people scrambling to buy into us, as well as, other bio diesel stocks?
most definitely
price is right regarding the 3 Billion shares...If the projected reasonably accounted for market cap of 2.5 billion is approached....Is the share price in the 80 cents range again...or what?...what else is around to dilute share holder value?..assuming of course that this moves foreward on the cheery revenue forcasts as hoped for...
i gotta be honest here...as a low paid biologist with 50 million of these shares ....well...no one is saying those could be worth multiple millions of dollars...or are we?...i mean if the company gains a respectable market cap that is what is being implied....come on...why would this happen to me?...is this possible?
but wait...how does KK make his capital gains...there must be an accounting trick to burst my bubble
"Dear Shareholder:
The recent preferred share conversion was to facilitate debt repayment. Some and probably all of the common shares issued in that conversion will be canceled following repayment of debt..."
i've read and re-read this paragraph from the ceo letter.
Anyone have thoughts on how the pref conversion will facilitate debt repayment? if they were going to be exchanged for financing through some private placement that would be one thing but the letter states they would be cancelled eventually - that implies they will not be transferred. ideas?
Just a guess
YA is getting worried that the sale of shares by the MIF and others will cause the OS shares to hit the 20B share wall too soon. So they make GERS convert half - 10B shares to commons as a placeholder. When GERS hits the new share wall they can make GERS hand over any amount of the 10B shares to them to keep from falling in arrears to their main debtor. I think the last time GERS hit the share wall YAGI felt screwed during the long delay until the 10-1 RS freed up more shares. This is YAGI's way to make sure this does not happen again. Of course GERS plans on getting them paid off before they hit the share wall, so they plan on those 10B (or most) getting canceled. This is the only senario I can think of that fits the facts.
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