Pacific Biodiesel drops Maui prices as county scraps proposed tax hike
In Hawaii, Pacific Biodiesel rolled back the retail price of its Maui pump station biodiesel by 9 cents per gallon – the amount of the on-road biodiesel fuel tax exempted by Maui County in its fiscal year 2017 budget, which also took effect today.
Previously Maui County had increased the County Road Tax on biodiesel by 9 cents per gallon and this year the Mayor’s budget requested an additional increase to 11.5 cents per gallon.
“In Maui County, increasing the tax on biodiesel to 11.5 cents per gallon would have generated less than $50,000 in annual revenue – that’s a drop in the bucket of the County’s budget,” said Bob King. “With the effects of climate change already upon us, it’s taxing the renewable fuel solution and not the problem – petroleum emissions. Our state is committed to a renewable energy future and Maui needs to step up.”
Pacific Biodiesel Vice President and Co-Founder Kelly King added, “Immediately reducing our prices on the first day of the fiscal budget honors the support of the Council and reflects the intent of the tax exemption. Competing against fossil fuel – arguably the most heavily subsidized industry in the world – is extremely difficult, especially now that petroleum prices are so low. If we as a community want to encourage renewable energy companies and renewable energy users, our lawmakers and public officials need to take supportive action. I’m proud that we can once again partner with our County Council in the effort to make Maui part of the climate solution.”
Category: Policy
