Tom Corriher 0

Biofuels Reform Amendment

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The Biofuels Businesses are slowly closing and laying off people. Why? Because of Congresses in action. We need bold leadership and reaching across party lines to get this done. The biofuels tax credit has expired and the best way to spur job growth in the coming years is to promote Biofuels. We need a congress person to add an amendment like this to any legislation. I have spoken to the National Biodiesel Board (NBB) and several Biodiesel owners and they all agree that an amendment like this if it were to pass would spur thousand of jobs. The current Diesel being consumed is around 60B gallons per year. Last year Biodiesel accounted for 1 Billion of that. If we had a B5 requirement that would be 3B gallons and that would cause farmers to grow more soybeans and Biodiesel producers to increase capacity- construction jobs, and they would have to increase staff. Please consider this as it is important to the air we breathe and the reduction of our reliance on foreign oil. This is two very good reasons to support this. The amendment…… This amendment will modify the current Renewable Fuel Standards set forth by the EPA to address a National Biofuels Mandate. The Beginning Mandate will be B5 for Biodiesel and E10 for Ethanol. The EPA shall set the increases upon investigation of the capacities of the Biofuels industry. The $1.00 per gallon tax credit shall now be given to the producers of Biofuels and no longer be given to those who simply blend. This Tax credit will apply to those producers who produce over 5 million gallons per year. In addition the producers must use 10% of the credit to invest in future Biofuels feedstocks like alga and cellulose. Tom Corriher 704-813-0601 CorrEnergy LLC owner@correnergy.com

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