Biodiesel industry primed to flourish

Posted By on January 1, 2011

With an expected economic recovery underway and oil prices rising, the biodiesel industry is looking to produce “as much as a billion gallons” and be profitable in 2011.

Washington, D.C. — Boom times are ahead for a biodiesel industry that struggled just to stay alive in 2010.

The industry could produce as much as a billion gallons in 2011, nearly triple this year’s production, said Gary Haer, chairman of the National Biodiesel Board.

Congress this month revived a critical $1-a-gallon tax subsidy that had lapsed at the end of 2009, and the industry also will benefit in 2011 from increased federal mandates on refiners to use biodiesel.

Posted via email from RichC’s posterous


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