Brooke Coleman, Executive Director of the Advanced Ethanol Council (AEC), released a statement today in response to the release of the FY2015 budget by the White House:
“The Advanced Ethanol Council commends President Obama for proposing to tackle the fundamental inequities and uncertainties that exist in the federal tax code when it comes to developing new fuels and technologies. A multiyear extension of the tax credit for cellulosic biofuels would help put the United States at the forefront of the global race to commercialize cellulosic biofuels. The expiration of this credit in 2013 came right at the time when the cellulosic biofuel industry was breaking through at commercial scale. Reinstating the provision will ensure that the next wave of commercial cellulosic biofuel plants will be built by Americans on American soil. We also strongly support the President’s proposal to tackle the issue of oil subsidies, which for decades have been driving investment away from the renewable fuel sector. Doing away with decades-old subsidies to oil and gas will not hurt those industries given their maturity and wealth, but will send a clear signal to the marketplace to invest in innovative, low-carbon alternatives to petroleum.
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