Posted By RichC 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. http://is.gd/jREaC