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Posted by Don in Missouri [71.54.209.154] on Tuesday, April 27, 2010 at 18:34:28 :
In Reply to: Where do we get our crude? posted by Don in Missouri [71.54.209.154] on Tuesday, April 27, 2010 at 18:20:55 :
If there's one thing that makes biodiesel vulnerable it is the reliance on subsidies. The biodiesel tax credit expired in December. If it doesn't get renewed, we can kiss energy independence good-bye. We can go back to relaince on OPEC and be glad Canada is happy to dig up their forests to sell us tar sands.
The five-year tax credit was responsible for building 175 biodiesel production plants in this country and over 20,000 American jobs. And it created $4 billion dollars more for the treasury than it cost. It also offset LDP payments to farmers, because they sold their crops instead of relying on the existing government insurance programs.
While I understand the initial objection to subsidies, this is one that makes great economic sense for the country. I would encourage everyone tell your congressman that it is vital to renew teh biodiesel tax credit ASAP.