The nation’s biodiesel producers say they’re concerned, now that the government has granted tax breaks to the big oil companies to produce biofuels.
Producers represented by the National Biodiesel Board have enjoyed those $1-per-gallon tax incentives for several years, after arguing that their emerging industry would create new jobs and add to the nation’s total fuel producing capacity.
But Biodiesel Board spokesman Tom Verry told “Land Line Now” on XM Satellite Radio that the big oil companies won’t add to the workforce or capacity – they’ll simply get a tax break.
“Does the American taxpayer really want … to give any more money to the oil companies?” Verry asked.
Verry said he predicts the big oil companies will drive biodiesel prices up, because they’ll be going after the same soybean crops and other raw materials that the smaller producers use.
– By Reed Black, staff writer