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Agricultural News


AEC: Presidentís Budget Charts Right Path on Fuels

Tue, 04 Mar 2014 19:21:40 CST

AEC: Presidentís Budget Charts Right Path on Fuels
Brooke Coleman, Executive Director of the Advanced Ethanol Council (AEC), released a statement today in response to the release of the FY2015 budget by the White House:


ďThe Advanced Ethanol Council commends President Obama for proposing to tackle the fundamental inequities and uncertainties that exist in the federal tax code when it comes to developing new fuels and technologies. A multiyear extension of the tax credit for cellulosic biofuels would help put the United States at the forefront of the global race to commercialize cellulosic biofuels. The expiration of this credit in 2013 came right at the time when the cellulosic biofuel industry was breaking through at commercial scale. Reinstating the provision will ensure that the next wave of commercial cellulosic biofuel plants will be built by Americans on American soil. We also strongly support the Presidentís proposal to tackle the issue of oil subsidies, which for decades have been driving investment away from the renewable fuel sector. Doing away with decades-old subsidies to oil and gas will not hurt those industries given their maturity and wealth, but will send a clear signal to the marketplace to invest in innovative, low-carbon alternatives to petroleum. It is this type of budget package that will create new jobs in new industries in the coming decade, and put the United States in the best position to succeed when it comes to developing next generation fuels.Ē



   

 

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