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NBB Applauds Biodiesel Tax Credit Extension (Ind. Report)
National Bioediesel Board, NBB
Date: 2021-09-15
In Washington, the National Biodiesel Board (NBB) has welcomed the proposed extension through 2031 of the biodiesel and renewable diesel blenders tax credit in the House Ways & Means portion of the Build Back Better Act. The NBB noted:

"Biodiesel and renewable diesel are clean, low-carbon fuels that are widely available today to achieve the carbon reductions Congress is seeking. These fuels are 74 pct less carbon intensive than petroleum diesel on average and have prevented more than 140 million tons of carbon emissions since 2010. Moreover, they substantially cut emissions of particulate matter that impact cancer rates, asthma and other respiratory diseases, which can lower associated healthcare costs. The biodiesel tax credit continues to be extremely successful in expanding consumer access to these clean, low-carbon fuels while driving economic growth and job creation."

The NBB noted the U.S. biodiesel and renewable diesel industry supports 65,000 U.S. jobs and more than $17 billion in economic activity each year. Every 100 million gallons of production supports 3,200 jobs and $780 million in economic opportunity. Biodiesel production supports approximately 13 percent of the value of each U.S. bushel of soybeans. (Source: National Biodiesel Board, Website PR, 11 Sept., 2021) Contact: NBB, Kurt Kovarik, VP Federal Affairs, 800) 841-5849, www.nbb.org

More Low-Carbon Energy News Biodiesel Tax Credit,  Renewable Diesel,  National Biodiesel Board,  NBB,  


NBB Thanks Senators, Representatives for Proposing Biodiesel Tax Credit Extension (Ind. Report)
NBB
Date: 2021-06-02
In Washington, "the National Biodiesel Board (NBB) and its members thank Sens. Chuck Grassley (R-IA) and Maria Cantwell (D-WA) and Reps. Cindy Axne (D-IA) and Mike Kelly (R-PA) for introducing the Biodiesel Tax Credit Extension Act of 2021, bipartisan legislation to extend the biodiesel tax credit through 2025. The bill introduced in both the U.S. Senate and House today would provide the biodiesel and renewable diesel industry certainty for an additional three years, supporting continued growth in U.S. production of better, cleaner fuels that are reducing carbon emissions now and boosting rural economies.

"As Congress looks to jump-start economic growth, rebuild infrastructure and reduce carbon emissions, they can count on biodiesel and renewable diesel to help achieve those goals. Biodiesel production is supporting economic opportunities and job creation in rural communities across the country. NBB members sincerely thank Senators Grassley and Cantwell and Representatives Axne and Kelly, along with the 27 original cosponsors.

"The biodiesel tax credit continues to be extremely successful in expanding consumer access to clean, low-carbon fuels. Biodiesel and renewable diesel are on average 74 pct less carbon intensive than petroleum diesel and have cut more than 140 million tons of carbon emissions since 2010. Moreover, these cleaner, better fuels substantially cut emissions of particulate matter that impact cancer rates, asthma and other respiratory diseases, as well as the associated healthcare costs"

According to the NBB, the U.S. biodiesel and renewable diesel industry supports 65,000 U.S. jobs and more than $17 billion in economic activity each year. Every 100 million gallons of production supports 3,200 jobs and $780 million in economic opportunity. Biodiesel production supports approximately 13 percent of the value of each U.S. bushel of soybeans. (Source: NBB, PR, 25 May, 2021) Contact: NBB, Kurt Kovarik, VP Federal Affairs, (800) 841-5849, www.nbb.org

More Low-Carbon Energy News NBB,  National Biodiesel Board,  Biodiesel,  Biofuel,  Biodiesel Tax Credit,  


Biodiesel Tax Credit Bridge Loan Funding Available (Ind. Report)
Rock House Advisors,
Date: 2020-02-05
Jefferson City, Missouri-based Rock House Advisors and PB Renewables, LLC have announced biodiesel tax credit (BTC) bridge loan funding for biodiesel producers. The two firms note they are working with a $5.5 billion financial institution that understands the history of the BTC, and is willing to rapidly underwrite and approve BTC-backed bridge loans to biodiesel producers while the producers await the return of their 2018 and 2019 BTC refunds from the IRS, according to a release. (Source: Rockhouse Advisors, PR, EIN, 3 Feb., 2020) Contact: Rockhouse Advisors, Joe Jobe, Pres., (573) 680-1948, joe@rockhouse.us, www.rockhouse.us; PB Renewables LLC, Peter Behrle, Managing Dir., www.linkedin.com/in/peter-behrle-b8a30711

More Low-Carbon Energy News Biodiesel,  Biodiuesel Tax Credit,  


U.S. Biodiesel Tax Credit Extended Through 2022 (Reg & Leg)
Biodiesel Tax Credit
Date: 2019-12-18
In Washington, U.S. lawmakers have passed an amended a government spending bill that includes extension of the $1.00 per gallon tax credit for the biodiesel industry through 2022 and retroactively to when it expired beginning in 2018.

The credit began in 2005 as a way to help farmers, reduce petroleum imports and support the market for biodiesel.

In September, 95 U.S. biodiesel plants produced 142 million gallons of the fuel, down from 164 million gallons a year earlier, according to the Energy Information Administration. (Source: KDAL, Reuters, Various Media, 17 Dec., 2019)

More Low-Carbon Energy News Biodiese,  Biodiesel Tax Credit,  


Ag Groups Petition for Biodiesel Tax Credit Extension (Reg & Leg)
Biodiesel
Date: 2019-12-11
The Fence Post is reporting eleven farm-oriented trade associations on Friday pleaded with Congress to extend the biodiesel tax credit.

"There is broad bipartisan support for the biodiesel tax credit, and we believe that Congress can, and must, pass an immediate extension before returning home at the end of the year.

"The future of the credit has been unclear for nearly two years. Since the start of the year, producers have cut back production, investments in new technologies and facility upgrades, and purchases of raw materials.

"Now, at least 10 biodiesel plants have closed or stopped production, furloughing several hundred workers; the states impacted include Connecticut, Georgia, Indiana, Iowa, Michigan, Mississippi, Nebraska, Pennsylvania and Texas. The economic fallout impacts more than 7,500 total jobs across the U.S. economy. Without an immediate extension of the tax credit, we anticipate widespread plant closures, more production cutbacks, and significant job losses," the groups said in their appeal. (Source: The Fence Post, 9 Dec., 2019)

More Low-Carbon Energy News Biodiesel,  NBB,  Biodiesel Tax Credit ,  


NATSO Urging Biodiesel Tax Credit Extension (Opinions & Editorials)
NATSO
Date: 2019-11-08
NATSO, the trade association of America's travel plaza and truckstop industry, issued the following statement with regard to a letter sent to House Speaker Nancy Pelosi (D-CA) and Ways and Means Committee Chairman Richard Neal (D-MA), urging Democratic leadership to support extending the biodiesel tax credit and other clean energy tax extenders:

"This letter is an extraordinary showing of support for the biodiesel tax credit and other clean energy tax policies. What is especially significant is the ideological and geographic diversity of the Democrats who signed this letter. Many of them have very difficult re-election campaigns ahead of them next year. The fact that lawmakers representing places such as Oklahoma City, Upstate New York, Salt Lake City, and Southern California -- areas far from the farming Midwest -- strongly support biofuels incentives underscores the economic and environmental benefits that these clean energy tax extenders bring to their communities. NATSO is grateful to Representatives Abby Finkenauer and Kendra Horn for their continued leadership on this important issue." (Source: NATSO, PR, The Central Virginian, 6 Nov., 2019) Contact: NATSO, David Fialkov, VP Gov. Relations, Tiffany Wlazlowski Neuman, 703-739-8578, www.natso.com

More Low-Carbon Energy News NATSO,  Biodiesel,  Biodiesel Tax Credit,  


REGI Shuttering New Boston, Texas Biodiesel Plant (Ind. Report)
Renewable Energy Group
Date: 2019-07-26
Ames, Iowa-based Renewable Energy Group (REGI) reports it is mothballing its New Boston, Texas biorefinery due to challenging business conditions and continued federal policy uncertainty -- the long-lapsed federal biodiesel tax credit, the company said. The 15-million gpy biodiesel plant near Texarkana, Texas, is capable of running both high and low free fatty acid feedstocks and has truck and rail access.

REGI operates 14 biorefineries in the US and Europe. In 2018, the company produced 502 million gallons of cleaner fuel delivering over 4 million metric tons of carbon reduction. (Source: REGI, PR, 25 July, 2019) Contact: REGI, Cynthia J. Warner, President and CEO, 515-239-8000, www.regi.com

More Low-Carbon Energy News Renewable Energy Group ,  Biodiesel,  


Ag.Groups Call for Biodiesel Tax Credit Extension (Reg & Leg.)
NBB,National Biodiesel Board
Date: 2019-05-24
Thirteen trade groups representing farmers, rural lenders, crop and biobased oil producers, and biodiesel producers today wrote leaders of the House of Representatives and Senate, asking them to act on bipartisan legislation to extend the biodiesel tax incentive:

"America's farmers and rural communities are facing a mounting economic threat. With your leadership, Congress can help mitigate the crisis by taking immediate action on a policy that enjoys bipartisan, bicameral support. We are writing today to ask you to renew and extend the biodiesel tax incentive at the earliest opportunity.

"Income for America's farmers is falling, and the impact is beginning to be felt in other sectors of the rural economy. Biodiesel production adds value to oil seed crops and recycled oils, providing one bright spot for the agriculture sector. Congress can take rapid action to renew the biodiesel tax incentive -- a policy that enjoys broad bipartisan support -- to help U.S. biodiesel producers continue growing."

The letters group include the Agricultural Retailers Association, American Farm Bureau Federation, American Soybean Association, CoBank, Corn Refiners Association, Farm Credit Council, National Biodiesel Board, National Council of Farmer Cooperatives, National Farmers Union, National Oilseed Processors Association, National Renderers Association, National Sorghum Producers, and U.S. Canola Association.

A copy of the letter is available for download HERE. (Source: National Biodiesel Board , KTIC, 22 May, 2019) Contact: National Biodiesel Board, Kurt Kovarik, VP Federal Affairs, (800) 841-5849, www.biodiesel.org

More Low-Carbon Energy News Biodiesel,  National Biodiesel Board,  NBB,  


NBB Sets Biodiesel Tax Credit, Trade and RFS Priorities (INd. Report)
National Biodiesel Board
Date: 2019-01-30
With the conclusion of its recent conference in San Diego, the National Biodiesel Board (NBB) is calling for a permanent biodiesel tax credit, a resolution to a South American trade dispute and support for the Renewable Fuel Standard (RFS)

According to NBB CEO Donnell Rehagen, the U.S. came out on top regarding an anti-dumping charge against Argentina and Venezuela and are now challenging their appeal of that decision. Rehagen says their goal this year on the domestic front is convincing Congress to enact a long term biodiesel tax credit. Rehagen says they also want to work with the EPA to make improvements in the RFS that would benefit biodiesel producers and farmers. (Source: NBB, WNAX,28 Jan., 2019) Contact: National Biodiesel Board, Donnell Rehagen, CEO, Kurt Kovarik, VP Federal Affairs, (800) 841-5849, www.biodiesel.org

More Low-Carbon Energy News National Biodiesel Board ,  Biodiesel,  Biofuel,  


Biodiesel Tax Credit Still in Limbo (Reg. & Leg.)
American Soybean Association
Date: 2019-01-04
According to an American Soybean Association posting, on Dec. 20, 2018, the U.S. House of Representatives passed a package of tax provisions, including extension of the biodiesel tax credit, by a vote of 220-183. However, that tax package did not get a vote in the Senate prior to the stalemate on the remaining government funding bills that resulted in a partial government shutdown and time running out on the 115th session of Congress. A new Congress is sworn in on Jan. 3 marking the start of a new session and any legislation will have to be re-introduced in the House or Senate. Given the on-going stand-off on government funding and the border wall, it is unclear when or if pending tax issues will be addressed. ASA notes it will continue to reiterate the value and importance of the biodiesel tax credit and urge Congress to enact a long-term extension as soon as possible. (Source: American Soybean Association, 3 Jan., 2019) Contact:

More Low-Carbon Energy News American Soybean Association,  Biodiesel,  Biodiesel Tax Credit,  


NBB Supports Biodiesel Tax Credit Extension Proposal (Ind. Report)
National Biodiesel Board
Date: 2018-11-28
In Washington, Rep. Kevin Brady (R-Texas), chairman of the House Ways & Means Committee, is reported to have proposed a multi-year extension of the biodiesel tax credit at its current rate of $1.00 per gallon for 2018 through 2021 but gradually reduce it to $0.33 per gallon by 2024, and then allow it to expire

The National Biodiesel Board (NBB) welcomes Brady's proposal: "The biodiesel industry has long advocated for a long-term tax extension to provide certainty and predictably for producers and feedstock providers. Too often, the credit has been allowed to lapse and then reinstated retroactively, which does not provide the certainty businesses need to plan, invest, and create jobs. We (MBB) appreciate the recognition that the biodiesel industry is integral to our domestic energy needs through this long-term extension. We look forward to working with our supporters on Capitol Hill to ensure that consumers, producers and marketers benefit from a long-term, forward-looking pro-growth tax policy," according to NBB VP for Federal Affairs, Kurt Kovarik. (Source: National Biodiesel Board, Ohio AG, 28 Nov., 2018) Contact: NBB, Kurt Kovarik, VP Federal Affairs, (800) 841-5849, www.biodiesel.org

More Low-Carbon Energy News National Biodiesel Board,  Biodiesel,  Biodiesel Tax Credit ,  

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