Integrity Biofuels tenth biodiesel plant to shut waiting for renewal of lapsed tax credit

In Indiana, Bloomberg reports that Integrity Biofuels has become the tenth biodiesel plant to close this year as the industry waits for Congress to extend the biodiesel tax credit that lapsed 22 months ago. Biodiesel producers have long expected the tax credit to be renewed so many made the decision to lower prices ahead of time in the expectation that the credit would be retroactive, making up for any short-term losses in revenue. Many biodiesel plants haven’t been able to wait, however, and are having to shut down instead.