Visit the Biodiesel Sustainability Now website HERE. (Source: National Biodiesel Board, PR, Website, 13 Jan., 2021) Contact: NBB, (800) 841-5849, www.biodiesel.org
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"While we expect that numerous strategies can reduce the total volume of liquid fuel consumed for transportation, we will need liquid fuel for certain purposes for at least several decades." -- Kurt Kovarik, NBB VP of Federal Affairs , Nov, 2020. Contact: NBB, Paul Winters, Pres., Kurt Kovarik, VP Federal Affairs, (800) 841-5849, www.nbb.org
More Low-Carbon Energy News National Biodiesel Board news, Biodiesel news,
"While we expect that numerous strategies can reduce the total volume of liquid fuel consumed for transportation, we will need liquid fuel for certain purposes for at least several decades." -- Kurt Kovarik, NBB VP of Federal Affairs , Nov, 2020. Contact: NBB, Paul Winters, Pres., Kurt Kovarik, VP Federal Affairs, (800) 841-5849, www.nbd.org
More Low-Carbon Energy News National Biodiesel Board, Biodiesel,
Supported by the United Soybean Board, U.S. Canola Association, and a dozen Qualified State Soybean Boards, this educational campaign allows NBB to reach key decision makers, and audiences who may be less familiar with the biodiesel and renewable diesel industry. Along with national buys, a major component includes targeted advertising in the Washington D.C., mid-Atlantic, and California markets.
NBB wants farmers to go to their website and complete a pre-written request to the President and EPA administrator to reject those gap small refiner waivers, 85 bof which have been issues over the past three years.
As previously noted, "hardship waivers" were intended for refineries producing 75,000 bpd or less and suffered "disproportionate economic hardship" from the costs of RFS compliance. The waiver frees the refineries from an obligation to provide the EPA with biofuels credits proving compliance. Under the now vanquished administrator Greg Pruitt's direction, the EPA handed out 54 exemptions over two years and not a single request for an exemption was denied.
(Source: NBB, WNAX 26 Aug., 2020) Contact: NBB, Paul Winters, Pres., Kurt Kovarik, VP of Federal Affairs, (800) 841-5849, www.nbd.org
More Low-Carbon Energy News National Biodiesel Board, NBB, RFS Waivers ,
"EPA's consideration of small refinery exemption petitions going back to 2011 flies in the face of the recent 10th Circuit decision. By rolling back the clock, there appears to be no length EPA won't go to help refiners undermine the RFS. Make no mistake -- this handout to the oil industry comes at the expense of biodiesel producers and soybean farmers across the country, and particularly the Midwest. Allowing these gap filings renders the program completely unpredictable for renewable fuel producers. The agency must immediately reject these petitions to restore confidence that it will abide by the law in administering the RFS." NBB VP for Federal Affairs Kurt Kovarik said.
NBB sent a June 1 letter to Administrator Wheeler saying, "EPA's first step upon receiving any petition for a small refinery exemption should be to evaluate its timeliness and validity before transmitting it to the Department of Energy." The letter makes the case that "gap" petitions or re-submissions of previously rejected petitions are inconsistent with the 10th Circuit's ruling. (Source: National Biodiesel Board, PR, NBB Website, 18 June, 2020) Contact: NBB, Kurt Kovarik, VP of Federal Affairs, (800) 841-5849, www.nbd.org
More Low-Carbon Energy News National Biodiesel Board, RFS, RFS Waiver, EPA Administrator Andrew Wheeler ,
NBB VP of Federal Affairs, Kurt Kovarik noted NBB is "grateful to the USDA for following through on a pledge to support infrastructure projects that facilitate higher biofuel blends.
"American consumers are increasingly demanding access to clean, low-carbon, advanced biofuels, like biodiesel. We look forward to working with the USDA to strengthen the market for higher blends of biodiesel," Kovarik added. (Spource, NBB, NAFB, 1 Feb., 2020) Contact: NBB, Kaleb Little, Dir. Communications, Kurt Kovarik, VP Federal Affairs, (800) 841-5849, www.biodiesel.org
More Low-Carbon Energy News National Biodiesel Board,
"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)
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Nearly 80 pct expressed support for existing federal advanced biofuels programs, 78 pct support the federal tax incentive for biodiesel, and 79 pct support the Renewable Fuel Standard (RFS) while 79 pct would encourage local communities and governments to promote use of biodiesel.
(Source: NBB,Oct., 2019) Contact: NBB, Kurt Kovarik, VP Federal Affairs, (800) 841-5849, www.biodiesel.org
More Low-Carbon Energy News National Biodiesel Board, RFS, Biodiesel, Ethanol, Biofuel ,
"We are writing to express dismay at your recent decision to grant 31 waivers from the Renewable Fuel Standard (RFS) program. Plainly stated, that decision is putting U.S.biodiesel producers out of business and worsening the year's outlook for soy farmers. And while you have expressed concern to save small petroleum refineries, you should also understand that small U.S. biodiesel producers need a positive signal.
"Within a week of your decision on the 31 waivers, one U.S. biodiesel producer announced plans to close three plants -- in Pennsylvania, Georgia, and Mississippi. Other producers have announced closings and laid off workers. More than 200 million gallons of domestic biodiesel production has been idled this year, due to instability in federal policy. We anticipate that additional facilities will close over the next several months if you do not take quick action to restore RFS volumes for biodiesel and renewable diesel.
"Every small refinery waiver issued by the EPA has the potential to put a U.S.biodiesel producer out of business. A small oil refiner processing 75,000 barrels of oil per day can produce nearly 1 billion gallons of fuel in a year. The RFS program requires that oil refiner blend about 20 million gallons of biodiesel or renewable diesel during the year -- a very small fraction of overall fuel production. However, there are dozens of biodiesel producers who produce 20 million gallons of fuel or less each year; three-fifths of U.S. producers are small, non-integrated facilities.
Small refinery waivers destroy demand for all biofuels across the board, with a significant impact on domestic biodiesel and renewable diesel producers. According to University of Illinois economist Scott Irwin, the exemptions especially harm biodiesel and renewable diesel producers because of the way the RFS is constructed. The 1.4 billion gallons of renewable fuel eliminated from the 2018 RFS through the 31 waivers includes hundreds of millions of gallons of biodiesel and renewable diesel in the biomass-based diesel, advanced and overall volumes.
"The small refinery exemptions are compounding the policy headwinds our industry is facing. Biodiesel producers have waited more than 20 months for Congress to address expired tax incentives. Additionally, your U.S. Department of Commerce is proposing to virtually eliminate countervailing duties on unfairly subsidized Argentine biodiesel. Those duties were put in place to counteract years' worth of unfair trade practices by Argentina. Soy farmers have faced closed markets, depressed crop prices, and weather-related challenges. Those forces have reduced soy planting by 15 percent for the current marketing year. Biodiesel is a value-added market driver for America's soybeans, at a time when markets have been shut or diminished.
"The biodiesel industry continues to rely on the RFS to incentivize growth. Biodiesel and renewable diesel can be used in any existing diesel engine without special equipment for blending or dispensing. Producers therefore rely on a positive signal and support from federal programs to continue opening the transportation market to higher volumes.
"Biodiesel producers and soy farmers rely on the RFS program. Growth in the biodiesel market is the only way to keep domestic producers operating and protect U.S. workers' jobs. Unfortunately, EPA is proposing zero growth for biomass-based diesel. We have asked the agency to do two things: first, properly account for the small refinery exemptions handed out over the past few years and going forward; and second, provide growth in the biomass-based diesel market for 2020 and 2021.
"We ask that you continue to support the RFS and save small biodiesel producers. (signed) National Biodiesel Board (NBB)" (Source: NBB, 9 Sept., 2019) Contact: NBB, Donnell Rehagen, CEO, Kurt Kovarik, VP Federal Affairs, (800) 841-5849, www.biodiesel.org
More Low-Carbon Energy News NBB, Biodiesel, RFS,
The Court nixed the NBB's appeal on the grounds that the biofuel industry did not comment on the topic or give the EPA sufficient opportunity to address those comments. (Source: NBB, Biofuels News, 9 Sept., 2019)
More Low-Carbon Energy News NBB, Biodiesel, RFS, "hardship" Waivers,
"Congress passed the Renewable Fuel Standard (RFS) back in 2007, signed into law by George W. Bush -- a lifelong oil and gas guy. The law was passed to encourage investment in advanced biofuels like biodiesel, renewable diesel and renewable jet fuel. Biodiesel producers responded, making the investments and building an industry that today produces more than 2 billion gallons of transportation fuel each year. This market also provides added value to feedstocks such as soybean oil, used restaurant oil and animal fats.
"The oil industry feverishly insists that the ethanol industry isn't harmed by small refinery exemptions because production has grown. But what about biodiesel? They never mention us because they know that small refinery exemptions disproportionately affect biodiesel because of the way the RFS is constructed.
"We have said again and again -- biodiesel is very different from ethanol. The president (Trump) was instrumental in clearing the path for higher blends of ethanol year-round when he lifted the RVP waiver this summer, which we were supportive of. He and his EPA administrator have mentioned E15 when they have spoken about what they believe to be the minor impact of exempting RFS gallons. It's as though they think we are dumb enough to not understand that they are giving with one hand but taking away with the other.
"Now, back to biodiesel. E15 does nothing to expand demand for biodiesel. Ethanol is not biodiesel. In fact, the RFS recognized this by establishing its own category for biodiesel, separate from ethanol, called biomass-based diesel. Policymakers at the time recognized the need to segment biodiesel and renewable diesel within the bigger RFS pool so that growth in those products could be differentiated in the overall program and we would see advancements of biofuels in both the gasoline and diesel sector.
"Fast forward to 2019 and we now have an EPA that, two months ago, proposed a draft rule to hold the biomass-based diesel category flat for 2020, keeping it at 2.43 billion gallons for the second year in a row and then, just last week, the same EPA grants nearly one-half billion gallons of biomass-based diesel waivers. To highlight the hypocrisy in this action, while filing the draft rule two months ago, the EPA documented, in writing, the fact that they expected to grant zero (that's zero as in none, zilch, nada) gallons of small refinery waivers in 2020. And we're supposed to understand and accept that move?
"Biodiesel and renewable diesel year after year fill more than 90 percent of the RFS volumes reserved for advanced biofuels. But EPA complains that advanced biofuels have not materialized quickly enough to meet the goals of the RFS. Now -- as seen last week -- the agency is holding its thumb on the industry and blocking growth. Not only blocking growth, but helping to reduce demand through small refinery exemptions.
"As the agency continues to hand them out to every refiner that asks, the damage could reach $7.7 billion or 2.54 billion gallons, according to Scott Irwin, an agricultural economist from the University of Illinois. A 'small' oil refinery, by RFS definition -- one that processes 75,000 bpd of oil and produces nearly a billion gallons of fuel a year -- would have an RFS obligation to use just 20 million gallons of biodiesel or renewable diesel. Many U.S. biodiesel producers are smaller than that -- just one small refinery exemption would eliminate their entire market. And the EPA granted 31 of them.
"President Trump vowed to protect and defend American farmers. In fact, he calls them patriots. But his actions will put the biodiesel producers those same farmers depend on for their market, out of business. It's already happening, and it's having a devastating impact on rural communities across the nation.
"President Trump and EPA Administrator Wheeler should clearly know what this means to the workers, producers, farmers and investors in the biodiesel and renewable diesel industry -- their new round of unwarranted RFS exemptions just destroyed jobs and a valuable marketplace for hardworking Americans, including those patriotic soybean farmers who Trump has called on to be his willing allies in the trade dispute with China. If this is how the EPA administrator treats the president’s allies, I'd hate to see how he treats his enemies.
(Source: NBB, 15 Aug., 2019) Contact: NBB, Donnell Rehagen, CEO, Kurt Kovarik, VP Federal Affairs, (800) 841-5849, www.biodiesel.org
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"Biodiesel producers are already shutting down facilities and laying off workers, due to loss of demand. The ongoing demand destruction will undercut the industry's investments and choke off markets for surplus agricultural oils, adding to the economic hardship that farmers are facing. The Trump administration's action represents a fundamental betrayal of previous promises to farmers and the agricultural economy." (Source: National Biodiesel Board, 10 Aug., 2019) Contact: NBB,
Kurt Kovarik, VP Federal Affairs, (800) 841-5849, www.biodiesel.org
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Biodiesel is key to the state meeting its Low Carbon Fuel Standard. The California Air Resources Board claims that biodiesel reduces greenhouse gases by at least 50 pct, and up to as much as 81 pct , compared to petroleum.
The California State Water Resources Board ruled that a 20 pct blend of biodiesel (meeting the ASTM standard for B20, D7467) "shall be recognized as equivalent to diesel for the purpose of complying with existing approval requirements for double-walled USTs, unless any material or component of the UST system has been determined to not be compatible with B20."
The regulation comes into force from 1 October 2019.
(Source: California State Water Board, California Advanced Biofuels Alliance,
Biofuels Int'l, 7 Aug., 2019)
Contact: California State Water Board, www.waterboards.ca.gov; NBB, Donnell Rehagen, CEO, Kurt Kovarik, VP Federal Affairs, (800) 841-5849, www.biodiesel.org;
California Advanced Biofuels Alliance,
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"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
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"The proposed RIN market reforms are unnecessary, as EPA has yet to see data-based evidence of RIN market manipulation. Reforming a system that, while certainly not perfect, is working as intended with no evidence of manipulation has the potential to disrupt and even undermine the system that obligated parties use to demonstrate compliance with the RFS. We ask that the agency use this proposed rule as an opportunity to provide transparency to the small refinery exemption process and address the timing of granting these exemptions. Increasing transparency in the small refinery exemption process is what is actually needed to prevent manipulation in the RIN market.
"Right now, retroactive small refinery exemptions are having the most negative impact on RIN markets, destroying demand for more than 360 million gallons of biodiesel and renewable diesel. Rather than unneeded reforms that could further disrupt the RIN market, EPA should increase transparency around the small refinery exemptions, end its practice of encouraging retroactive petitions, and ensure that annual volumes that it set are met,"Kurt Kovarik, VP federal affairs, added.
(Source: NBB, 30 April, 2019) Contact: NBB, Donnell Rehagen, CEO, Kurt Kovarik, VP Federal Affairs, (800) 841-5849, www.biodiesel.org
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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
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Congress retroactively extended the tax incentive for 2017 in February 2018, leaving it expired for this year and beyond. The letter welcomes a recent proposal for a seven-year extension of the tax incentive.
Download the NBB letter HERE. (Source: National Biodiesel Board, 11 Dec., 2018) Contact: National Biodiesel Board, Kurt Kovarik, VP Federal Affairs, (800) 841-5849, www.biodiesel.org
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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
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"We welcome the administration's proposal to grow the biodiesel volumes, following two flat-lined years. This is a positive signal for our industry and we're pleased the EPA has acknowledged our ability to produce higher volumes. We've consistently demonstrated that we can do much more. The fact remains, though, instability in the RFS program caused by the EPA has done significant damage that can only be rectified for biodiesel through consistent and predictable growth in volumes, according to Kurt Kovarik, NBB VP Federal Affairs.
"Kovarik pointed to decisions by the EPA administrator to provide numerous (hardship) waivers to petroleum refiners that release them from their obligations under the RFS, effectively reducing the overall volumes under the program in 2016 and 2017. Those exemptions have effectively destroyed current demand for biodiesel by 300 million gallons.
"As a candidate on the campaign trail, Donald Trump pledged he would support biofuels and protect the RFS, Kovarik added. While this is just a proposal, we hope the administration is serious about growing biodiesel volumes and will fulfill the president's promise to support and grow the RFS.
The EPA proposed to raise the renewable volume obligations (RVO) for the biomass-based diesel category from 2.1 billion gallons in 2019 to 2.43 billion gallons in 2020. The agency also proposed to slightly increase the advanced biofuel category, for which biodiesel also qualifies, from 4.29 billion gallons in 2018 to 4.88 billion gallons in 2019.
"The RFS requires the EPA to grow the volume of advanced biofuels like biodiesel delivered to U.S. consumers. Since taking office, Trump's EPA has recommended zero growth for the biomass-based diesel category.
"This summer, 39 U.S. senators sent a letter to EPA Acting Administrator Andrew Wheeler urging him to increase biomass-based diesel and advanced volumes and accurately account for small refinery hardship exemptions in the annual RFS volumes. NBB specifically thanked Sens. Patty Murray, D-Washington; Roy Blunt, R-Missouri; Heidi Heitkamp, D-North Dakota; and Chuck Grassley, R-Iowa, for leading the letter.
"Noting that EPA proposes to set the 2020 biomass-based diesel volume at 2.43 billion gallons, the senators wrote, 'While these proposed increases are encouraging, these volumes continue to underestimate the existing potential of the biodiesel and renewable diesel industries in our states. We believe the biodiesel industry can do more and that EPA should demonstrate more confidence in the RFS program's ability to drive growth.' Comments from the senators and NBB demonstrate that the increased biomass-based diesel volume is achievable with available feedstocks. Calling on EPA to accurately account for small refinery hardship exemptions, the senators added, 'It is critical that EPA appropriately account for any small refiner economic hardship exemptions that it reasonably expects to grant during the 2019 compliance year in the final rule, or EPA will not be able to fulfill its duty to ensure RVOs are met.'
"We (NBB) join the senators in calling on EPA to raise biomass-based diesel volumes to an appropriate level that will drive additional growth. Biodiesel production has consistently exceeded the annual volume obligations set by EPA. The industry continues to operate below capacity, which limits job creation and economic growth. Moreover, EPA must fully and accurately account for small refiner hardship exemptions under the RFS. NBB estimates that the exemptions granted by EPA for 2016 and 2017 reduced demand for biodiesel and renewable diesel by about 300 million gallons. That lost demand is equal to or greater than the annual production of some of the nation's top biodiesel-producing states, including Washington, Missouri, North Dakota and Iowa. The volumes that EPA sets are meaningless if the agency does not ensure they are met at the end of the year.
"NBB and its members continue working to move the needle for higher volumes, meeting with the administration, working with biodiesel champions on the Hill, and collaborating with key industry stakeholders. The EPA is set to finalize volumes before Nov. 30." (Source: NBB, 24 Oct., 2018) Contact: NBB, Kurt Kovarik, VP Federal Affairs, (800) 841-5849, www.biodiesel.org
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Illinois presently has 2,632 operational wind turbines at 49 wind farms, which provided 6.2 pct of all in-state electricity production.
Illinois' Renewable Portfolio Standard requires that utilities and retail electric suppliers generate 25 pct of their electricity sales from renewable energy sources like wind, solar and biomass energy by 2025.
(Source: Illinois Winds, Journal Courier, Oct., 2018) Contact: Illinois Winds, Bill Damon, VP,
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The NBB brief is the first the courts will consider in arguing that EPA must account for all small refinery "hardship" exemptions -- including retroactively granted exemptions -- when it sets the annual RFS volumes and renewable volume obligations (RVOs).
The NBB brief claims the "EPA unlawfully failed to account for all small-refinery exemptions it awards, violating its duty to promulgate percentage standards that 'ensure' all aggregate volumes are met. Unaccounted for small-refinery exemptions reduce aggregate volumes, and EPA's approach creates a new, de facto waiver authority contrary to Congress's design. Despite knowing those consequences, EPA declines to adjust percentage standards to account for that shortfall, either before it is likely to happen or after it actually does."
The EPA has disclosed that it recently retroactively granted 48 small refinery hardship exemptions, reducing the 2016 and 2017 RVOs by a combined 2.25 billion RINs. In the brief, NBB notes that the exemptions reduced the 2016 RVOs by 4.3 pct and the 2017 RVOs by 7.5 pct.
Separately, NBB estimates the 2016 and 2017 exemptions reduced demand for biodiesel by more than 300 million gallons, potentially putting hundreds of new jobs at risk.
The NBB argues that EPA violated its duty to ensure that the annual volumes it sets are met and that the use of its cellulosic waiver authority to reduce the 2018 advanced biofuel RVO below the volume the agency determined would be reasonably attainable. The "EPA's view that it has unlimited discretion to do whatever it wants to the advanced-biofuel volume via the cellulosic waiver provision is not supported by this Court's precedents and would, if correct, render the provision unconstitutionally broad," the NBB brief states.
the NBB brief also argues that EPA set the 2019 biomass-based diesel volume based on factors that are not mentioned in the RFS statute, while disregarding factors that are in the statute. "EPA set the 2019 BBD volume nearly identically to how it set the 2018 volume, which NBB is challenging in a separate
proceeding. But the result here is even worse for the industry," NBB says in the brief. (Source: National Biodiesel Board , PR, 30 July, 2018) Contact: National Biodiesel Board, Kurt Kovarik, VP of Federal Affairs, (800) 841-5849, www.biodiesel.org
More Low-Carbon Energy News National Biodiesel Board , RFS, Biofuel Blend,
"On behalf of a diverse community of biodiesel producers, feedstock providers, blenders, fuel marketers and consumers, we are pleased to announce that we have united around a single position -- to maintain and extend the biodiesel tax credit at the blender level.
"The blenders credit has worked successfully to build a robust biodiesel and renewable diesel industry -- 100 million gallons in 2005 to nearly 2.6 billion gallons in 2017. The tax credit is an important demand stimulus, which improves plant efficiencies, encourages investment in U.S. distribution infrastructure and supports high-paying jobs throughout the country, while providing fuels that significantly reduce greenhouse gas emissions. On top of this, it has afforded customers such as the trucking industry and heating oil users fuels that are more economic and environmentally competitive.
"Extending the biodiesel blenders credit will allow us to continue to provide the economic and environmental benefits associated with the program.
"Unfortunately, the uncertainty caused by the "on-again, off-again" tempo of legislative extensions, including the Bipartisan Budget Act of 2018 which retroactively extended the biodiesel tax incentives through the end of 2017, has somewhat frustrated our sector's ability to anticipate the availability of the incentives and make the necessary investments. This severely disrupts access to capital, as well as the ability to hire and expand. Given that Congress has frequently extended the credit retroactively, market participants have come to reasonably rely on the credit being retroactively extended when undertaking business and investment decisions. Accordingly, the undersigned trade associations and companies urge Congress to restore the tax credit as soon as possible.
"To provide certainty in planning, we believe Congress should extend the full $1.00 per gallon tax credit for 2018 and 2019. Beyond that, we are seeking long-term certainty, including a permanent tax incentive at a level that will continue to foster growth in the domestic biodiesel market.
"Since the credit's inception, the market responded as Congress intended. We urge Congress to extend this successful program."
In addition to NBB, the letter was signed by the Advanced Biofuels Association, the American Trucking Associations, National Association of Convenience Stores, National Renderers Association, NATSO, Representing America's Travel Centers and Truckstops, New England Fuels Institute, Petroleum Marketers Association of America, and Society of Independent Gasoline Marketers of America.
(Source: National Biodiesel Board, 25 June, , 2018)
Contact: National Biodiesel Board, Kurt Kovarik, VP of Federal Affairs, 800) 841-5849, www.biodiesel.org
More Low-Carbon Energy News NBB, Biodiesel, Bioodiesel Tax Credit,