|
||
|
ASA
Celebrates Passage of Senate Energy B August 1, 2003… Saint Louis, Missouri… The American Soybean Association (ASA) “Biodiesel
Campaign” took a major step forward last night (July 31) when the U.S.
Senate approved an Energy Bill that contained a number of incentives
designed to encourage the use of biodiesel, including the ASA-backed
biodiesel tax incentive. Biodiesel is a clean-burning alternative to
petroleum-based diesel fuel that is produced primarily from soybean oil.
“Securing
passage of the biodiesel tax incentive and other measures designed to
encourage the use of the fuel is our top legislative priority for the
year,” stated ASA President and National Biodiesel Board (NBB)
Director Ron Heck from his farm in Perry, Iowa. “Last night’s vote
put us one step closer to achieving our goal, and the ASA would like to
extend a sincere thanks to our friends in the Senate who fought hard to
make this happen.” After
weeks of heated debate, the Senate voted 84 to 14 in favor of the 2002
version of the Energy Bill that provided a 1-cent reduction of the
diesel excise tax per percentage of biodiesel blended with diesel up to
20 percent. The bill also includes a Renewable Fuels Standard that calls
for the nation’s fuel supply to increase its use of renewable domestic
fuels, like ethanol and biodiesel, to 5 billion gallons in 2012.
Incentives increasing biodiesel demand will also
boost the need for soybean oil, its primary feedstock, which in turn
will raise the price of soybeans. There are other reasons why biodiesel
is so important to our country, in addition to these economic benefits.
Biodiesel is made primarily from soybean oil grown here in the U.S., so
it lessens our country’s dependence on foreign oil. With over 55
percent of the oil we consume coming from the highly unstable Middle
East, renewables like biodiesel should become a larger portion of our
nation’s fuel supply. There
are environmental benefits of biodiesel production as well. Emissions of
greenhouse gases and particulate matter would be significantly reduced
by increased biodiesel use. An increased demand for biodiesel could also
create thousands of jobs across the U.S. economy.
“Soybean-based biodiesel is good for farmers, good for the environment, and good for our country,” proclaimed Heck. “Incentives designed to encourage people to use biodiesel is the right policy for our country, and, on behalf of the ASA, I applaud the Senate for taking a big step in this direction.” The
U.S. House of Representatives approved its Energy Bill earlier this
year. The difference between the House and Senate Bills will be
reconciled in a joint House/Senate Conference Committee. Conference is
where the refinements made by the Senate Finance Committee to the
biodiesel tax incentive contained in the 2002 Energy Bill are expected
to be included. These refinements were made through the amendment
offered by U.S. Senators Chuck Grassley (R-IA) and Blanche Lambert
Lincoln (D-AR) during Finance Committee consideration of the energy tax
package last April. In addition to this change, the ASA
will be seeking to include in the final Energy Bill other key biodiesel
measures, such as those supported by Senators Kit Bond (R-MO), Jim Talent
(R-MO), and Tim Johnson (D-SD) that would encourage the use of biodiesel
in meeting federal requirements for government alternative fuel use.
“While
the Senate vote was a huge victory for biodiesel, supporters of the ASA
Biodiesel Campaign should know that anything could change once the bill
goes to Conference. The ASA calls on soybean farmers across the land to
thank their Senators who supported the bill and encourage them, as well as
their Representatives in the House, to express their support for the
inclusion of strong biodiesel provisions in the final Energy Bill,”
urged Heck.
--30-- For
more information contact: |
||
|
||
