02/09/2018 | Press release | Distributed by Public on 02/09/2018 15:46
NEWSFOR IMMEDIATE RELEASE
Contact: Rosemarie Calabro Tully
'The industry is grateful to our champions for their tireless efforts to ensure that all of our members' transactions in 2017 will be properly covered by a retroactive extension of the blenders credit. Candidly, we are disappointed that some of the negotiators prevented the extension from covering 2018, as well. We will continue to make the case that a long-term extension of biodiesel and renewable diesel tax incentives is good energy policy, good tax policy, and would produce more of the environmental and economic benefits that were envisioned when Congress designed the incentives. The industry is poised for growth if given the right signal, so we'll continue to make sure that Congress understands the value and benefits the public receives from increased biodiesel use,' said Kurt Kovarik, vice president of federal affairs of National Biodiesel Board.
Made from an increasingly diverse mix of resources such as recycled cooking oil, soybean oil and animal fats, biodiesel is a renewable, clean-burning diesel replacement that can be used in existing diesel engines without modification. It is the nation's first domestically produced, commercially available advanced biofuel. The National Biodiesel Board is the U.S. trade association representing the biodiesel and renewable diesel industries, including producers, feedstock suppliers and fuel distributors.