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The steep growth in twenty-first century ethanol consumption was driven by federal legislation aimed to reduce oil consumption and enhance energy security. The Energy Policy Act of 2005 required use of 7,500,000,000 US gal (2.8 × 10 10 L) of renewable fuel by 2012, and the Energy Independence and Security Act of 2007 raised the standard, to ...
Biofuels groups are eager for clarity on the tax credits for fuels that combat climate change, which they hope will ultimately provide a pathway for corn-based ethanol to expand its market as a ...
Also included is an amendment to the ethanol blender tax credit for general ethanol, reducing the tax credit from $0.51 to $0.45 per gallon (Section 15331). [9] Finally, Title XV extends ethanol import tariff of $0.54 per gallons from its original expiration date of the end of 2008 to the end of 2010 (Section 15333). [9]
Major U.S. airlines and aviation companies joined ethanol companies to send a letter to the Biden administration on Wednesday backing a regulatory change that would make it easier for sustainable ...
Over the past 30 years, the federal government has given an estimated $45 billion to the corn industry to help support ethanol production. In 2011 alone, those subsidies totaled about $6 billion ...
Corn was the top crop for subsidy payments prior to 2011. The Energy Policy Act of 2005 mandated that billions of gallons of ethanol be blended into vehicle fuel each year, guaranteeing demand, but US corn ethanol subsidies were between $5.5 billion and $7.3 billion per year. Producers also benefited from a federal subsidy of 51 cents per ...
A one-year extension of federal farm programs, around $30 billion in economic relief and an agreement that would increase sales of a higher blend of ethanol, called E15, were part of a bipartisan ...
George W. Bush signing the Energy Policy Act of 2005, which was designed to promote US nuclear reactor construction, through incentives and subsidies, including cost-overrun support up to a total of $2 billion for six new nuclear plants. [1]