Jobe, Blunt promote biodiesel tax credit

By Luke Geiver | July 13, 2010
Posted Aug. 11, 2010

In our history, the biodiesel tax credit has been one of the most successful pieces of energy legislation, said Joe Jobe, CEO of the National Biodiesel Board. Jobe, along with Congressman Roy Blunt, R-Mo., spoke during an energy round table press conference, both expressing support for the reinstatement of the tax credit. "Somebody once said that everything should be as simple as possible, but no simpler than possible," Blunt said at the press conference. "Our goal with this should be to calculate the timing out so that we get these American jobs and this American industry to where it becomes an ongoing part of the energy picture."

That picture, in case anyone needs reminding, has been bleak since the expiration of the tax credit on December 31, 2009. According to Jobe, a "significant" number of plants have shuttered, shut down or gone into idle mode while waiting for the reinstatement of the credit.

Blunt however said a short term plan for the industry is not the answer. "We can no longer have short term tax credits. We need to think about how long it will take for this industry to become a stable part of the ongoing energy future of the country," adding, "I think we all understand how dangerous and foolish it is to be needlessly dependant of people who don't like us, but its economically almost as foolish to be dependent on other economies for something you produce in your own economy."

Both Jobe and Blunt noted that U.S. production of petroleum-based transportation fuel has seen government support for well over 50 years. When asked if the biodiesel credit should just expire Blunt responded, "Clearly that's not the case." We should be trying to calculate that moment when the industry can stand on its own, he added, "but we don't want to get their sooner then we should." Blunt has previously voted against a bill that would reinstate the tax credit, citing other tax provisions as the main deterrents for voting yes.
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