Friday, February 3, 2012

Biodiesel Breaks One Billion Gallons

EPA data indicates that the U.S. biodiesel industry produced more than one billion gallons of fuel in 2011.
Total production of 1.1 billion gallons, made mostly from soybean oil, recycled cooking oil and animal fats, far exceeds the federal Renewable Fuel Standard (RFS) 2011 requirement of 800 million gallons and also dwarfs the previous record of 690 million gallons produced in 2008.   The biodiesel industry credits the success to a combination of a 1-year reauthorization (through 2011) of the biodiesel tax credit and the RFS requirements.

The biodiesel tax credit mentioned above expired at the end of 2011.  In addition, EPA is considering lowering the 2013 RFS biodiesel requirement from 1.28 billion gallons to 1 billion gallons, a move that the biodiesel industry believes will devastate the industry.

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