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US biofuels hurt if 2010 tax break expires
Source : reuters.com
U.S. fuel ethanol and biodiesel production would be cut by 10 percent if Congress allows biofuel tax credits to expire this year, a University of Missouri think tank said on Tuesday. Corn and soybean prices would fall by 15 cents a bushel, estimated the Food and Agricultural Policy Research Institute (FAPRI). One-third of the corn crop is used to make fuel ethanol and about 11 percent of U.S. soybean oil is used for biodiesel. Fuel ethanol producers such as Archer Daniels Midland Co, POET and Valero Renewable Fuels - the three largest distillers - would be affected too. The ethanol tax credit of 45 cents a gallon and a tariff of 54 cents a gallon on ethanol imports are scheduled to expire at the end of this year. The $1-a-gallon biodiesel tax credit died at the start of the year but would be revived for 2010 in a bill pending in the Senate.
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11 mars 2010 |
Législation ::
Biocarburants ::
Etats-Unis & Canada
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