The Iowa Renewable Fuels Association (IRFA) says it could be a blue Christmas for the state’s biodiesel producers.
IRFA’s Monte Shaw says Congress’ inaction on extending the federal biodiesel blenders tax credit means most biodiesel refineries will be forced to shut down production and lay off employees. He calls it “painful irony” that, while Congress talks about passing a jobs bill, it can’t take action that would save hundreds of “green collar jobs” in Iowa alone.
Iowa has 15 biodiesel refineries capable of producing over 320 million gallons annually when fully operating. The tax credit expires on December 31st.
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This is especially ironic in that when it comes to net energy gain from converting crops into biofuel, biodiesel beats ethanol hands down, moreover, diesel engines are more efficient than gas engines hence and even greater benefit of biodiesel. Go figure.