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More Biofuels News
-Congress:
The Emergency Economic Stablization Act of 2008 (H.R.1424), which was signed into law on October 3, 2008 (P.L. 110-343), contains several incentives for biofuel research and production. This includes new tax credits for cellulosic biofuel production, increases in the tax credits for production of biodiesel, and extension and expansion of the alternative fuel credit.
The Food, Conservation, and Energy Act of 2008 (P.L. 110-246, H.R. 6124), also known as the Farm Bill, contains a number of provisions specifically designed to encourage the production of biofuels as well as $20 million in competitive research grants in fiscal year 2009. The bill also establishes requirements for federal procurement of biofuels and creation of a labeling program.
On June 12, 2008, the Senate Energy and Natural Resources Committee held a hearing on the influence of biofuel production on world food prices. Testimony from DOE and USDA officials suggested that the impacts were minimal although the director of the International Food Policy Research Institute provided findings that showed up to 30 percent of the rise in global grain prices between 2000 and 2007 may be due to increased production of biofuels from food-grains such as corn.
-National:
DOE said that it would invest $200 million over the next six years in pilot- and demonstration-level projects that produce advanced biofuels, such as bio-butanol, algae-derived fuels, and green gasoline.
The USDA announced on November 19, 2008 that it is accepting applications for guaranteed loans specifically designated for commercial-scale refineries that produce advanced biofuels. This includes fuels derived from non-food crops such as switchgrass, forest waste, woodchips, and algae. The program, which was authorized under the 2008 Farm Bill, will provide up to $250 million per project subject to the availability of funds.
Updated January 6, 2009
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