Congressional Democrats’ massive Build Back Better spending plan would create a new subsidy for renewable jet fuel while also extending the existing tax credit for biodiesel and renewable diesel through 2031.
House Democrats are proposing historic funding for conservation programs, agricultural research, renewable energy and forestry and other climate-related priorities as part of a $3.5 trillion tax and spending package.
When it comes to producing soyoil for the rapidly emerging renewable diesel market, the industry is adamant that it can expand without the kind of food-versus-fuel criticism from the general public that has plagued biofuels in the past.
The Environmental Protection Agency is expected to propose trimming biofuel usage mandates for 2021, while increasing the renewable volume obligations for next year, a Capitol Hill source confirmed to Agri-Pulse.
The Supreme Court has ruled in favor of small refineries seeking relief from the Renewable Fuel Standard, delivering a major blow to biofuel groups in a long-running legal battle over the governance of the nation’s ethanol and biodiesel policy.
Airlines that are scrambling to lower their greenhouse gas emissions are lobbying Congress to enact new incentives for renewable jet fuel, even as competition for biofuel feedstocks already is heating up.