There’s optimism in the biodiesel industry regarding the proposed biodiesel tax credit. “Having a five-year extension would be huge for the industry,” says Rolette, North Dakota farmer and National Biodiesel Board member Ryan Pederson. Historically, it’s been two-year extensions. “Those extensions typically don’t get done until the second year and then, they go back and make things whole,” explains Pederson. “There were lots of plants not far from closing their doors. Now, there may be some plants that see this market signal for future biodiesel demand and maybe we’ll get more biodiesel plants online.”
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