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Congress Extends Ethanol Subsidy

Posted: Thursday, December 23rd, 2010 at 6:25 am
Author: KNIA/KRLS News-David Hecht

Congress recently agreed to extend the 45 cent-per-gallon subsidy for ethanol for one year and chose to continue a 54 cent per gallon tariff on imports of bio-fuel. Justin Huebner from Two Rivers Cooperative says that there was also an extended one dollar per gallon tax credit on all bio-diesel fuel. Huebner says that this is good news for farmers and producers since the extension is retroactive and the dollar credit is good for every gallon sold this year. He adds that the bio-fuel industry is huge and this will help create a lot of jobs. Huebner says that it’s much cleaner to burn bio-fuel and it also will help reduce the dependency of foreign oil.