Posted: June 7th 2010
From KTIV:
After letting the biodiesel tax credit expire in December, lawmakers on capitol hill are renewing their interest in this renewable fuel.
The national biodiesel board says a troubling trend has emerged since in the last six months. Several biodiesel plants have shut down production...
The $1 per gallon credit helps make biodiesel competitive with its petroleum counterpart. South Dakota Republican John Thune sits on the Senate Ag committee.
He believes there's relief in sight for biodiesel producers. Sen. John Thune, (R) South Dakota:"It could happen in the next few weeks, if Congress, when they get back, the House passed legislation before they went out. The senate will have to take it up when we get back. I could see something happening that would get that done in the next, we're out of session this week, but hopefully in the next two or three weeks."
Thune is prepared to vote for renewal of the tax credit, which he sees as vital to the survival of this emerging industry.
