House Passes Biodiesel Tax Credit

The house has passed the American Jobs and Closing Tax Loophole Act by a vote of 215 to 204.

H. R. 4213 seeks to retroactively extend the one dollar per gallon production tax credit for biodiesel and diesel made from biomass, from the date of the lapse in 2009 until the end of 2010.

Also in its sights are the small biodiesel producers, aiming to extend the 10 cents per gallon credit.

Other proposed extensions to credits for biomass power projects, heavy hybrid vehicles and alternative fuels for vehicles including biomass and biogas.

Manning Feraci , National Biodiesel Board Vice President of Federal Affairs stated, “There are compelling economic, energy security and environmental benefits associated with displacing petroleum with clean-burning, domestically produced biodiesel “Common sense dictates that the Senate should act swiftly upon their return from Memorial Day recess and extend this effective public policy.

During the six years that the tax incentive has been in place, the biodiesel industry has added $4.1 billion to the nations GDP and generated $828 million in tax revenue for Federal, State, and Local Government.

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National Biodiesel Day

To many, March 18th means the celebration of Saint Patrick's Day, But, today is also Rudolph Diesel's birthday.

Over 100 years ago Rudolf Diesel discovered an innovation that was cutting edge. Today, no other engine inventor's name is so intently tied to his engine.

His pursuit to find more efficient ways to use steam as the working fluid in heat engines led to patents in 1892 & 1893 for the cycle of an engine using the compression-ignition method. Diesel then tackled the obstacle of the compression-ignition engine as a refinement of the petrol engine invented by Niklaus Otto in 1876. Although he experienced several obstacles with manufacturing, licensing, and financial stability, he spent the rest of his life introducing his invention to the world.

The diesel engine was originally made to run on peanut oil, and only later did petroleum become the standard fuel. Diesel said, "the use of vegetable oils for engine fuels may seem insignificant today, but such oils may become, in the course of time, as important as petroleum and the coal tar products of the present time."

Diesel eventually revised his first model and in 1894 his new engine ran for more than a minute. This engine had a mechanical efficiency over 75%, surpassing the steam engines of that time which where running at less than 10%.

In 1898 Diesel made himself a millionaire by selling the rights to his engine to a Missouri beer manufacturer named Adolphus Busch. His determination and sales were so monumental that they were used in almost all US submarines during WWI.

On September 29, 1913, Diesel disappeared from the Harwich-Antwerp ferry as is crossed the Channel and was never found. Since his death the diesel engine has become and integral component in transportation and manufacturing.

National Biodiesel Conference & Expo

Come see SRS Engineering Corporation at the 2010 National Biodiesel Conference & Expo being held February 7th through the 10th in Grapevine Texas at the Gaylord Texan Resort & Convention Center.

This is a fantastic forum for the biodiesel industry to network with numerous biodiesel marketers, feedstock growers, fuel distributors, governament leaders and other biodiesel stakeholders. This year, the NBB has the new Biodiesel Networking Center and a new and improved NBB Connections social networking website to accomodate the numerous open forum "round table sessions."

Futures forecaster Don Reynolds will be a keynote speaker sure to pique interests with his answers to questions regardint the "new normal" in the business environment.

To see a full list of exhibitors go to www.biodieselconference.org/2010

U.S. House of Representatives Extends Biodiesel Tax Credit One Year

The House approved the expansive $31 billion tax extenders package 241 to 181, which includes a one year extension for the biodiesel tax credit set to expire December 31, 2009. This will continue the biodiesel tax credit into 2010. However, the Senate must still act on the plan.

"While it remains to be seen when or if the Senate will take up this tax incentive provision, the NBB will continue to work with its memebership and Senators to ensure this important measure is passed and signed into law," said Michael C. Frohlich, Director of Communications for the National Biodiesl Board's Washington, D.C. office.

"In terms of the five-year tax extension that would also alter the credit from a production excise credit to a producers credit, it is clear that due to the legislative calendar and the priorities currenly facing Congress - healthcare being front and center - that legislation will not be voted on this year. Therefore, the NBB has decided to endorse the one year extension as to ensure that the tax credit does not expire, and will continue to work towards a multiyear producer tax credit in the future."

It’s a Very Biodiesel Christmas in Washington D.C.

Ironically, on the heels of the expiration of the Biodiesel Tax Incentive on December 31, the Capital Christmas Tree has made its 4,000 mile journey cross country from Arizona to the nation's capital on trucks fueled with a B5 biodiesel blend.

"It is significant that the Capitol Christmas Tree was delivered with biodiesel because economic development, carbon reduction, and energy security continue to dominate national priorities", said Joe Jobe, CEo of the National Biodiesel Board. "Biodiesel helps us achieve all of those things".

The trucks carrying the tree and its 10,000 handmade ornaments and 80 companion trees that will be set up throughout the Capital Complex made their journey across the country using the "BioTrucker" system, traveling from some of the 800 existing biodiesel stations to fuel up with donated biodiesel along the way.

Biodiesel is a renewable fuel for diesel engines. It reduces lifecycle carbon dioxice emissions by 78 percent, is made domestically from agricultural byproducts such as soybean oil and other fats and oils, and it supports thousands of green jobs.

To help save the Biodiesel Tax Incentive, please visit the National Biodiesel Board's Tax Credit Action Center by Clicking Here.

Help Save the Biodiesel Tax Incentive

The Biodiesel tax incentive will expire on December 31, 2009 unless Congress acts affirmatively to extend the tax credit.

The biodiesel tax incentive was enacted in 2004 allowing the nation to reap the economic energy, security and environmental benefits associated with commerical scal production and use of biodiesel. This incentive is designed in such a way that makes biodiesel competitively priced with petroleum diesel in the marketplace.

If the credit is allowed to lapse, it will intensify the astounding challenges that face the industry already and will cost the U.S. an additional 23,000 jobs to the 29,000 that have already been lost in 2009.

According to a study released by renowned economic analyst, John M. Urbanchuck, there will be a major loss of jobs and income, increased demand for petroleum diesel, a degradation of energy security, decreased demand for soybean oil and lower soybean prices leading to a negative impact on farm income, stranded investment as biodiesel capacity is idled, and lost tax revenue for States and local Governments.

The U.S. House of representatives is tentatively scheduled to consider legislation that would extend a host of expiring tax provisions, including the biosiesel tax incentive for one year. With health care dominating the Senates focus, it's unclear when, or, if the U.S. Senate will address this issue before the end of the year. Both chambers must reach an agreement of the final makeup of a larger tax bill carrying an extension of the biodiesel tax incentive.

The National Biodiesel Board, (NBB) has provided a Tax Credit Action Center with a sample letter, talking points, and contact information for your elected officials. Those who wish to participate in saving the Biodiesel Tax Incentive can visit the site provided by the NBB by Clicking Here.