03/15/2010 12:47:00 PM EST
Alternative Fuel Producers Push for 30% Investment Tax Credit
Blue Fire Ethanol and a consortium of 31 other alternative fuel producers have sent a letter to Congress asking for a 30% investment tax credit for biofuels. While alternative fuel producers were encouraged by last week's passage of extenders legislation to extend the alternative fuel mixture and biodiesel excise tax credit programs, those extensions are temporary.
While the national renewable fuels standard contemplates increasing amounts of biofuels by 2010, there are no commercial scale cellulosic ethanol plants scheduled to come online before 2011, according to one industry letter sent to Congress.
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