House unveils spending bill that includes extenders for many biofuel programs

In Washington, members of the House of Representatives has released the $1.1 trillion, 2009-page spending bill that includes extending several bioenergy tax credits for two years including the Biomass Crop Assistance Program, the Biorefinery, Renewable Chemical and Biobased Product Manufacturing Assistance program, and Rural Energy for America Program. The extension of the biodiesel credit was criticized by domestic producers and praised by foreign producers because it wasn’t shifted to domestically-produced biodiesel only. As a result soyoil futures as well as RIN credits for biomass diesel fell on expectations less feedstock would be required for biodiesel as more would be imported.