Sustainable Advanced Biofuels Refiners Coalition
The Sustainable Advanced Biofuel Refiners (SABR) Coalition applauds Rep. Mike Carey and other sponsors for reintroducing legislation to reinstate the Biodiesel Blenders Tax Credit. This legislation is important because key elements of Section 45Z continue to create market uncertainty, including the lack of an updated GREET model that excludes the debunked theory of indirect land use change.
SABR supports the bill as written and would suggest further refinements to Rep. Carey’s bill that will prioritize domestic economic activity. Because this biodiesel bender’s tax credit would be supported by U.S. tax dollars, the credit should directly benefit the domestic supply chain including U.S. producers, farmers, and feedstock suppliers. This biodiesel tax credit can provide immediate supply and pricing stability to volatile energy markets.
“We greatly appreciate Congressman Carey and his congressional colleagues for their leadership and awareness of the importance of reinstating the Biodiesel Blenders Tax Credit to reduce market uncertainty, strengthen our domestic supply chains and bring much-needed stability to energy prices,” said SABR CEO Joe Jobe. “Energy security is national security, and biodiesel can provide solutions to many of the energy challenges we’re currently facing.”
The Sustainable Advanced Biofuels Refiners is a coalition of biofuel industry stakeholders, including feedstock growers, biodiesel producers, distributors, retailers, and consumers.
SABR news release
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