CBO, Ethanol, and the Rest of the Story
This week, the Congressional Budget Office (CBO) released a report critical of ethanol tax incentives, but devoid of any comparisons to other energy tax incentives (like those for Big Oil). The report relied on what were, in large part, worst-case assumptions and also failed to give credit for co-products now an undeniable component of the industry that must be taken into account. After a thorough review, we have come up with some of key takeaways and criticisms of the report.
Posted in Ethanol, Environment, Renewable Fuels, Renewable Fuel Standard, VEETC
Farmers, Ethanol Industry Reaffirm Support for Current Ethanol Tax Policies
Farmers and ethanol producers agree that extending current tax incentives for ethanol is the right policy. Read what leaders in the industry had to say in its entirety.
CBO, Chairman Bingaman and the Future of the Ethanol Tax Incentive (First Cut)
A new report from the Congressional Budget Office takes the issue of ethanol tax incentives completely out of context. Nowhere in the report does CBO compare ethanol incentives to those provided to fossil fuels. Neither does CBO give credit to America's ethanol industry for the environmental and efficiency improvements it has made or the production of coproducts such as livestock feed and corn oil.
Posted in Ethanol, Energy, Environment, VEETC
Senate to Include Ethanol Tax Incentive?
POLITICO is reporting that an extension to the ethanol tax incentive may be in the works on the Senate side as Senate Finance Chairman Baucus and his committee are putting together a package of tax provisions to include an extension of the 45-cent per gallon tax credit for ethanol. The inclusion of this tax credit is suggested to be a going-away present for Senator Grassley (R-IA), a long time supporter of biofuels, ethanol in particular. The fact that leadership is considering this inclusion is more reflective of the fact ethanol enjoys bipartisan support than the term limits imposed by the Senate GOP with respect to committees.
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