FarmPolicy

April 24, 2014

Biofuels; Ag Economy; Trade; and Climate Issues

Biofuels

Dow Jones news reported yesterday that, “A federal mandate on use of biodiesel and the likely extension of a tax credit for the fuel are resurrecting hopes for the industry in the U.S.

Production of the fuel–which is similar to crude-oil-based diesel but made from vegetable or animal oils–essentially came to a halt over the past several months due to the economic downturn and the expiration of the $1-a-gallon tax credit at the end of 2009.

“Signs of a tentative turnaround point to how government action remains vital for renewable fuels, which proponents say can help mitigate climate change and foster domestic energy security.”

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