The biodiesel tax credit, first enacted in 2004 and extended twice, is critical to their future growth and ability to survive financial losses brought on by the economic crisis, they say.
The EU’s move last March to slap high tariffs on biofuel imports was an added blow for some of the 180 biodiesel plants operating in 38 states.
“Without the tax credit, the price of biodiesel would be insufficient to provide a positive return over variable costs, and the biodiesel industry could be expected to collapse,” claims a study released by the National Biodiesel Board (NBB), the sector’s trade association.
“We’re
