Governors’ Biofuels Coalition Chair Determined to Help Pass Biodiesel Tax Incentive

WASHINTON, DC ‘ Iowa Governor Chet Culver, who is Chair of the Governors’ Biofuels Coalition, yesterday told the nation’s biodiesel industry that he is more determined than ever to help get the extension of the federal biodiesel tax incentive passed in Congress.

Culver addressed members of the National Biodiesel Board at their June member meeting. He noted that the renewable energy industry is one of the best opportunities to grow the economy.

‘Unfortunately a lot of people have not had the chance to understand what we are already doing, much less what is possible,” Culver said. ‘I can’t think of a better alternative than biofuels and biodiesel. It is homegrown, cleaner, and energy efficient. Plus it is a great way Americans can say no to imported foreign oil.”

Culver went on to say that it ‘makes no sense” that the biodiesel incentive has not been extended yet.

‘If we can’t extend the biodiesel tax credit, how can we even think about anything beyond that relating to renewable energy?” he said.

‘Biodiesel is the only commercially available advanced biofuel in the U.S.,” said Joe Jobe, CEO of the National Biodiesel Board. ‘We applaud Governor Culver and the Governors’ Biofuels Coalition for calling on Congress to pass this important biodiesel tax incentive. Biodiesel must be on a level playing field with petroleum, which has had decades of substantial subsidies.”

The federal biodiesel tax credit expired in December. In the five years since it was enacted, the energy legislation has been highly effective, leading to: