Filed under: Biodiesel, Ethanol, Legislation and Policy
Not a very exciting headline, I know, but realize what this means. With the state government offering tax incentives on soybean-based B20 biodiesel as well as E85 ethanol, each retailer can lower their price per gallon by at least ten cents, making the two renewable resource fuels that much more affordable to consumers. That, in turn, makes E85-capable vehicles more attractive to purchase, which then increases the demand for and sales of said biofuel, stimulating suppliers to churn out more go-juice. Then it gets cheaper, and we're all a bunch of happy peas in a very green pod.Ohio plans on throwing $4.5 billion at its tax credits every two years, and Mark Watkins, President of the Ohio Soybean Association (that sounds like a dream job) is also part of the National Ethanol Vehicle Coalition, who is pushing to get another $2 million from the feds, in addition to their current 30 percent tax credit. All you Ohioans can continue to enjoy your 43 E85 stations and 51 B20 stations, and look forward saving some scratch.
[Source: Dayton Daily News]
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