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The Future

“We have the solutions to move forward” – Whit Palmer, Chairman, Board of Directors, Hydromentia Water Treatment Technologies, Ocala, FL

We’ve been working toward developing biofuels for a long time. Our interest began in the 1970’s when an oil embargo left Americans in line at the pumps. Today, our oil addiction is a national security issue. This is a start, but we need much more…

Simply creating subsidies, mandates and incentives for certain quantities of fuel or energy will not result in a sustainable biofuels industry. The University of Tennessee’s Bio-Based Energy Analysis Group has determined there are significant market opportunities for biofuels if Congress or state legislatures enact polices which give certainty to the market.

Now is the time for American biofuels.

Year Policy What it does
1988 Alternative Motor Fuels Act Created incentives for production of alternative fuel vehicles.
1990 Clean Air Act Amendments Created procedures for reducing pollutants generated by transportation.
1990 Omnibus Budget Reconciliation Act of 1990 Created Small Ethanol Producer Tax Credit (“SEPTC”) which gives small ethanol producers a 10 cents per gallon, production income tax credit on up to 15 million gallons of production, annually.
1992 Energy Policy Act of 1992 Enacted Clean Cities initiatives to develop partnerships and promote alternative fuels.
2004 American Jobs Creation Act of 2004 Created the primary federal tax incentive for the ethanol industry - the Volumetric Ethanol Excise Tax Credit (VEETC). The VEETC provides blenders and marketers of fuel with a federal tax credit of 45 cents on each gallon of ethanol blended with gasoline. The VEETC enhances the cost competitiveness of ethanol with gasoline and provides gasoline marketers and blenders an economic incentive to blend ethanol with their gasoline
2007 Energy Independence and Security Act of 2007 Enacted Renewable Fuel Standard 2 requires 36 billion gallons of renewable fuels by 2022.
2008 Food, Conservation and Energy Act of 2008 (the Farm Bill Establishes:  the Cellulosic Ethanol Producer Tax Credit, a tax credit for the producers of cellulosic alcohol and other cellulosic biofuels; the Bioenergy Program for Advanced Biofuels that provides payments to producers to support and expand production for advanced biofuels; the Biomass Crop Assistance Program (BCAP) helps pay the cost of establishing and growing biomass crops near energy facilities
2009 American Recovery and Reinvestment Act of 2009 Provided $800 million for U.S. Department of Energy research and development related to biomass.
2010 The Renewable Fuels Reinvestment Act (RFRA)/ GREEN Jobs Act of 2010 Provides extension of major federal tax incentives scheduled to expire 12/31/10 including: Volumetric Ethanol Excise Tax Credit (VEETC);  Small Producers Tax Credit; Cellulosic Ethanol Producer Tax Credit and the offsetting tariff on foreign ethanol