A bipartisan bill to extend the $1-per-gallon biodiesel tax credit was introduced to the House of Representatives on July 18. The bill was sponsored by representative Mike Carey of Ohio, along with representatives Ann Kuster and Claudia Tenney. The measure was referred to the House Committee on Ways and Means.
Postponing the move from the blenders tax credit (BTC) to the Clean Fuels Production Credit (CFPC) could provide a measure of relief for the industry. Many market participants have previously speculated this would be an impossible task, given that a deeply divided Congress would have to come together and pass the resolution. The legislation will test this view.
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11.21.2024
Domestic US biodiesel blending helps lift October RFS RIN production
US domestic biodiesel blending of 147.5 million gallons in October produced a monthly high of 221.2 million renewable identification number (RIN) credits for January-October. This was 11.5% above September...
11.21.2024
CWG trades lower as broader animal fats markets hold steady
The US animal fats and oils markets held steady on Thursday November 21, with limited trading as attention shifted toward broader macroeconomic factors and...
11.21.2024
October commercial cattle, hog production above 2023
US animal protein prices were steady on Thursday November 21. Limited trade was reported from market sources due to the proximity of the extended Thanksgiving holiday weekend in the...