ASA taps biodiesel tax credit and RFS protection as two highlights for 2011

January 5, 2012 |

In Missouri, the American Soybean Association published a list of key accomplishments for 2011, including several related to the biodiesel industry.

The ASA noted its support for the biodiesel industry in an effort to extend the biodiesel tax credit in 2011, which helped the industry reach record biodiesel production levels in 2011. It also worked in conjunction with the United Soybean Board, U.S. Soybean Export Council, and soy exporters in an effort to maintain access for U.S. soybean exports to the EU that would otherwise be negatively affected by the EU’s Renewable Energy Directive.

Subsequently, the U.S. and the EU have agreed to enter into bilateral negotiations on how U.S. soybeans can be deemed compliant with RED requirements.

The ASA stated that record biodiesel production levels achieved in 2011 were the direct result of efforts by the National Biodiesel Board, the biodiesel industry and the ASA in supporting the development of a renewable fuel standard for biodiesel and extending the tax incentive through the end of 2011. The organization’s efforts were supported by strong soybean investments in research and promotion.

Category: Fuels

Thank you for visting the Digest.