Oklahoma Farm Report masthead graphic with wheat on the left and cattle on the right.
Howdy Neighbors!
Ron Hays, Director of Farm Programming Radio Oklahoma Network  |  7401 N. Kelley Ave. Oklahoma City, OK 73111  |  (405) 841-3675  |  Fax: (405) 841-3674


Agricultural News

National BioDiesel Board Hails House Passage of Biodiesel Tax Incentive

Fri, 28 May 2010 14:05:26 CDT

National BioDiesel Board Hails House Passage of Biodiesel Tax Incentive Today, the U.S. House of Representatives passed the American Jobs and Closing Tax Loopholes Act, legislation that among other things retroactively extends the biodiesel tax incentive through December 31, 2010. The measure passed the House by a 215 to 204 margin.

“The National Biodiesel Board (NBB) is pleased that the House has finally passed the biodiesel tax credit,” stated Manning Feraci, Vice President of Federal Affairs. “Since the tax incentive’s inception six years ago, the biodiesel industry has created tens of thousands of green jobs, added $4.1 billion to the nation’s GDP and generated $828 million in tax revenue for federal, state and local governments. However, since the incentive has lapsed the industry has shed thousands of jobs, shuttered plants and is struggling to survive. Timely reinstatement of biodiesel tax incentive will undoubtedly reverse this troubling trend and allow the industry to create over 12,000 new jobs in this year alone.”

Biodiesel is the only domestically produced, commercial scale Advanced Biofuel that is readily available and accepted in the marketplace. The biodiesel tax incentive makes biodiesel price competitive with the diesel fuel produced by petroleum companies – an industry that has received billions of dollars in taxpayer support over the previous decades.

“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 the Memorial Day recess and extend this effective public policy.” Feraci concluded.



WebReadyTM Powered by WireReady® NSI


Top Agricultural News

  • Wednesday, July 28, 2021 Market Wrap-Up with Justin Lewis  Wed, 28 Jul 2021 15:49:22 CDT
  • Oklahoma Grain Elevator Cash Bids as of 2:00 p.m, Wednesday, July 28  Wed, 28 Jul 2021 15:40:41 CDT
  • House Agriculture Hearing Echoes NCBA Push for More Hook Space  Wed, 28 Jul 2021 15:00:33 CDT
  • Ag Secretary Blayne Arthur Sees Two Big Hurdles for Oklahoma Beef Producers   Wed, 28 Jul 2021 15:03:43 CDT
  • Jerry Bohn of NCBA Believes Cash Cattle Trade Improving in the Southern Plains and Kansas  Wed, 28 Jul 2021 11:59:02 CDT
  • Four Years Later, EPA Has Failed to Restore 500 Million Lost RIN Gallons   Wed, 28 Jul 2021 10:57:56 CDT
  • OSU Professors Recognized by National Agricultural Organization  Wed, 28 Jul 2021 10:57:31 CDT
  • Cartridges for Cash; Merck Animal Health Supports Okahoma Cattlemen by paying for Empty Ralgro & Revalor Cartridges  Wed, 28 Jul 2021 10:56:55 CDT

  • More Headlines...


    Ron salutes our daily email sponsors!

    Oklahoma Beef council Oklahoma Ag Credit Oklahoma Farm Bureau National Livestock Credit Ag Mediation Program P&K Equipment Tulsa Farm Show Union Mutual Stillwater Milling Oklahoma Cattlemen's Association KIS FUTURES, INC.

    Our Road to Rural Prosperity sponsors!


    Search OklahomaFarmReport.com

    © 2008-2021 Oklahoma Farm Report
    Email Ron   |   Newsletter Signup   |    Current Spots   |    Program Links

    WebReady powered by WireReady® Inc.