2005 Year in Review

Biodiesel Boost: Energy Bill Passes Poised for President’s

Source: Julie Toohill at (309) 663-7692

Members of the U.S. Congress and Senate from Illinois proved pivotal in this week’s passage of a landmark Energy Bill. Illinois Soybean Association (ISA) members have long been stumping for the measure, which promises to help jump-start commercial markets for renewable fuels including biodiesel fuel.

The Energy Bill passed out of the House of Representatives yesterday and was approved by the Senate in a 74-26 vote. Both Illinois Senators voted in favor of this important legislation. The measure includes an extension of the current biodiesel tax incentive through 2008. It also provides a small-producer biodiesel tax credit of up to $0.10 per gallon for up to 15 million gallons of production.

As approval of the Energy Bill was announced, ISA President Earl Williams, a Cherry Valley, Illinois farmer expressed thanks to its supporters.

“The Energy Bill is an important step forward – a step in recognizing that the federal government has a role in developing the infrastructure that is necessary to support the biodiesel industry,” said Williams.

The Energy Bill includes a national Renewable Fuels Standard designed to increase demand for both biodiesel and ethanol. The standard is set at 7.5 billion gallons of biodiesel and ethanol by 2012, beginning with 4 billion gallons next year.

“This Energy Bill increases our nation’s target for renewable fuels. Increased domestic production of renewable energy has to be a plus for the country. And if it uses my corn and soybeans, it has to be a plus for me as a farmer.”

The specific language so critical to the bill’s impact was finalized by the Energy Bill Conference Committee. The committee was led by House Energy and Commerce Committee Chairman Joe Barton of Texas. Illinois Representatives John Shimkus, Judy Biggert and Jerry Costello played important roles as committee conferees.

by  Editor, theCity1.com
August 8, 2005