Biodiesel Companies Highlight Jobs that Depend on the Biodiesel Tax IncentiveThu, 25 Apr 2019 14:30:15 CDT
Today, the National Biodiesel Board (NBB) and several of its member companies released photos of industry workers who are impacted by the uncertainty over the future of the biodiesel tax incentive.
Kurt Kovarik, Vice President of Federal Affairs with the National Biodiesel Board, stated, "Because the biodiesel tax incentive has been expired for sixteen months, many companies are facing a very uncertain future. With the on-again, off-again nature of the credit, biodiesel companies are forced to build the credit's value into contracts and hope that Congress extends the policy at the end of the year. Many companies have essentially priced their products at a loss for more than a year. The economic pressure of these losses while waiting on Congress to act is now threatening the future of the industry, putting jobs at stake. It is urgent that Congress act immediately to provide the biodiesel industry certainty for 2018 and 2019."
Dr. Robert Morton, chairman of the board of Newport Biodiesel, also said, "The biodiesel sector is responsible for more than 60,000 jobs across the United States and pays $3.8 billion in workers' wages and benefits. More than half the industry consists of small and medium size production facilities."
Raf Aviner, President of American GreenFuels, LLC, added, "Biodiesel represents a sustainable and alternative fuel source that reduces greenhouse gas emissions. The success of the biodiesel industry, however, is now in peril. Plants cannot survive continued Congressional uncertainty regarding the biodiesel tax credit. Plants will shut down and plant employees, the innocent bystanders, will lose their jobs. Time is running out."
Chris Peterson, President of Hero BX, said, "Our employees are hardworking and industrious Americans, making a great-working green product. These blue-collar workers have committed to the biodiesel industry, finding jobs in the new green economy. It is unfortunate that members of Congress have not shown the same dedication to the industry by letting the lapsed credit situation continue."
Jim Galvin, CEO and Director of Lakeview Energy, added, "We urge Congress to ensure that good-paying, blue collar jobs do not disappear and provide the biodiesel sector the certainty it needs for survival by immediately extending the biodiesel tax credit for 2018 and 2019."
A few of the employees of Lakeview Biodiesel, Moberly, MO, April 2019.
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. NBB is the U.S. trade association representing the entire biodiesel value chain, including producers, feedstock suppliers, and fuel distributors, as well as the U.S. renewable diesel industry.
Source - Biodiesel
WebReadyTM Powered by WireReady® NSI
Top Agricultural News