SABR applauds reintroduction of legislation to reinstate biodiesel blenders tax credit

The Sustainable Advanced Biofuel Refiners Coalition applauded Rep. Mike Carey, R-Ohio, and other sponsors for reintroducing legislation to reinstate the biodiesel blenders tax credit (BTC).

This legislation is important, according to SABR, because key elements of section 45Z continue to create market uncertainty, including the lack of an updated GREET model that excludes the debunked theory of indirect land-use change.

SABR supports Carey’s bill as written and would suggest further refinements to the proposed legislation that will prioritize domestic economic activity.

Because the BTC would be supported by U.S. tax dollars, the credit should directly benefit the domestic supply chain including U.S. producers, farmers and feedstock suppliers, SABR stated.

The BTC can provide immediate supply and pricing stability to volatile energy markets, the association said.

“We greatly appreciate Congressman Carey and his colleagues for their leadership and awareness of the importance of reinstating the biodiesel blenders tax credit to reduce market uncertainty, strengthen our domestic supply chains and bring much-needed stability to energy prices,” said SABR CEO Joe Jobe.

“Energy security is national security, and biodiesel can provide solutions to many of the energy challenges we’re currently facing,” he added.

Sustainable Advanced Biofuels Refiners is a coalition of biofuel industry stakeholders, united in its commitment to reducing greenhouse-gas emissions and advancing energy security through the production and distribution of sustainable biodiesel.

Its diverse membership includes feedstock growers, biodiesel producers, distributors, retailers and consumers, all working together to advocate for policy adjustments that promote the use of sustainable feedstocks and level the playing field for all fuels.