USDA Announces $239 Million to Increase Access to Biodiesel, Ethanol, and Biobased Technologies
USDA Deputy Secretary Xochitl Torres Small announced Oct. 29 that the department is awarding $39 million in grants to U.S. business owners to increase the availability of domestic biofuels in 18 states and give Americans cleaner, more affordable fuel options. Torres Small also announced USDA will make $200 million available through the new Biobased Market Access and […]
‘New Markets for Michigan Farmers’ – Lawmakers Push for Decade-long Extension of Biofuel Tax Credits
A new bill introduced in the U.S. House of Representatives aims to tack 10 years onto the life of a biofuel tax credit in a move that industry advocates say provides economic certainty to farmers. The clean fuel production credit (CFPC) for transportation fuel with zero or low greenhouse gas emissions — including sustainable aviation […]
Biofuel Producers Shutting Down Without 45Z Guidance
Biofuels made from soybean oil add roughly $1.30 in value to a bushel of soybeans, experts say. Brad Wilson said if the U.S. Department of the Treasury doesn’t issue regulations on the 45Z Clean Fuel Production Credit soon, the 45-million-gallon-a-year biodiesel plant he manages in northwest Iowa may have to idle. “You’re going to be […]
CoBank Report Highlights SAF Opportunity for U.S. Ag Economy, but Policy Questions, Market Uncertainties Remain
Sustainable aviation fuel (SAF) could emerge as the next opportunity for substantial growth in U.S. biofuels production with proper market and regulatory incentives. Agricultural feedstocks are poised to play a leading role in the supply chain for domestic SAF production. However, any meaningful growth opportunities will be largely dependent on favorable policies and adequate incentives […]
EIA Maintains 2024, 2025 Biodiesel Production Forecasts, Reduces Outlook For 2025 Renewable Diesel Production
The U.S. Energy Information Administration maintained its forecasts for 2024 and 2025 biodiesel production in its latest Short-Term Energy Outlook, released Oct. 8. The forecast for 2025 renewable diesel production was revised down. The EIA currently expects biodiesel production to average 110,000 barrels per day in 2024 and 100,000 barrels per day in 2025, unchanged […]
Delay In Tax Credit Guidance Risks Growth Of Low-Carbon Liquid Fuels
A new US tax credit for low-carbon fuels will likely begin next year without final guidance on how to qualify, leaving refiners, feedstock suppliers, and fuel buyers in a holding pattern. The US Treasury Department this month pledged to finalize guidance around some Inflation Reduction Act tax credits before President Joe Biden leaves office but conspicuously […]