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Shining Light on Farm & Food Policy for 20 Years.
Friday, November 15, 2024
Farm groups are re-upping concerns that the next phase of biofuel tax credits could still include bundling requirements that some say could limit opportunities for farmers.
Biofuel and farming organizations across the country want USDA to dismantle mandatory combinations of climate-smart agriculture practices to qualify for biofuel tax credits, and the groups suggest moving to a simplified accounting system to propel the industry's growth.
The biofuel industry is eagerly awaiting the Biden administration’s update of a model that will be used to measure the carbon intensity of sustainable aviation feedstocks and determine their eligibility for a valuable new tax incentives. But industry officials caution that the update is only one in several policy actions that will be needed to get SAF production off the ground.
Renewable Fuels Association President and CEO Geoff Cooper says 2024 will be “one of the most pivotal and consequential years” the ethanol industry has ever experienced.”
The nation’s railroads as well as airlines and ocean-going ships offer massive new opportunities for the U.S. biofuel industry, but some significant policy and logistical challenges could stand in the way.
A new project aims to convert ethanol into 250 million gallons of sustainable aviation fuel annually, potentially offering a new way for the airline industry to meet decarbonization goals and creating a new market for existing corn ethanol.
