{"id":2439,"date":"2019-03-12T08:55:22","date_gmt":"2019-03-12T13:55:22","guid":{"rendered":"http:\/\/www.acterragroup.com\/?p=2439"},"modified":"2019-05-30T15:25:06","modified_gmt":"2019-05-30T20:25:06","slug":"biodiesel-a-great-american-success-story","status":"publish","type":"post","link":"https:\/\/www.acterragroup.com\/dev1\/2019\/03\/12\/biodiesel-a-great-american-success-story\/","title":{"rendered":"Biodiesel: “A Great American Success Story”"},"content":{"rendered":"\n

Biodiesel has had a transformative impact on our economy\u2014renewing tax incentives\ncould keep the momentum going.\n<\/em><\/p>\n\n\n\n

On February 11, House leaders sent a letter to Congress calling for a multi-year extension of biodiesel and renewable diesel tax incentives. In their letter<\/a>, legislators from both sides of the aisle cited the fuel\u2019s success in reducing toxic emissions as well as US dependence on foreign oil, calling biodiesel a \u201cgreat American success story.\u201d <\/p>\n\n\n\n

So, how exactly has the environment\u2014not to mention the economy\u2014benefitted from\nwidespread embrace of biodiesel? And what\u2019s at stake as lawmakers weigh policy\nsurrounding renewable fuels?\n<\/p>\n\n\n\n

The Benefits of Biodiesel\n<\/strong><\/h4>\n\n\n\n

When we think about the benefits of renewable fuels like biodiesel, we tend to first think about its environmental impact<\/a>. But biodiesel\u2019s greatest success has been its impact on the US economy\u2014particularly in the transportation and agriculture industries. According to the February 11th letter to Congress, \u201cUS biofuel production supports more than 60,000 good paying jobs in the US and helps rural communities across the country build new economic opportunities.\u201d <\/p>\n\n\n\n

For farmers, especially Iowa\u2019s soybean farmers who are feeling the impact of falling crop\nprices and trade uncertainties, biodiesel production offers a glimmer of hope\u2014in the\nletter to congress, lawmakers said biofuel \u201ccan add roughly 63 cents of value to every\nbushel of soybeans.\u201d\n<\/p>\n\n\n\n

For the transportation industry, switching fleets to biodiesel or biodiesel blends comes\nwith its own financial benefits. As online commerce continues to push fleets to their\nlimits, fuel prices are becoming an increasing concern for drivers and carriers. Extending\nthe biodiesel tax incentives would help lower the cost of fuel, passing the savings off\nonto drivers, and in turn, lowering the cost of goods they\u2019re hauling for consumers.\n<\/p>\n\n\n\n

Is a Biodiesel Tax Incentives Extension on the Horizon?\n<\/strong><\/h4>\n\n\n\n

On March 1, Iowa Senator Chuck Grassley and Oregon Senator\nRon Wyden, inspired by the February 11 letter to Congress,\nintroduced legislation calling for the renewal on several\nexpiring tax incentives for biodiesel, including:\n<\/p>\n\n\n\n