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Biodiesel board highlights record production

The National Biodiesel Board is using the latest record biodiesel production number in urging Congress to renew the biodiesel tax incentive that is set to expire at the first of the year.

According to the EPA, the industry has produced more than 802 Million gallons of biodiesel in the U.S. so far this year – setting a new record for annual production – more than doubling the production last year. The NBB says that number would not have been reached if Congress had not reinstated the biodiesel tax credit at the end of 2010 that it had allowed to expire at the end of 2009.

Bipartisan legislation was introduced in June to extend the one-dollar-a-gallon biodiesel tax credit through 2014. The three-year extension was put forth in the House by Democrat Collin Peterson of Minnesota and Republican Aaron Schock of Illinois and by Republican Senator Chuck Grassley of Iowa and Senate Democrat Maria Cantwell of Washington. Congress returns to Washington this week.

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