Industry News
 News Headlines |
 |
|
|
Today's news in full |
|
|
|
News Summaries |
|
|
|
Syndication |
|
|
European producers hit at U.S. biodiesel export tax credits
20th June 2007
Cheap US biodiesel threatens to put European biofuel producers out of business, said a statement from Spain's renewable energy association APPA yesterday, which followed similar concerns expressed by German and French producers. As reported by Planet Ark today, the APPA complains that a loophole in U.S. tax laws gives substantial credits to U.S. biofuels exports.
Spain’s new biofuels obligation will not help national producers unless refined U.S. biodiesel is prevented from entering European markets at below the cost of raw vegetable oil in Europe, said the APPA. Crude soy oil used as a biodiesel feedstock currently costs upwards of €600 per tonne, leading to a refined cost of €750/tonne, while refined US biodiesel is said to be available in Spain at €600-650.
the APPA wants the Spanish government to deny U.S. biodiesel imports from the tax break offered to biofuels in Spain. A dozen biodiesel plants were in operation in Spain by the end of last year and several dozen more are planned.
| << Previous |
|
Whole Day's News
|
|
Next >>
|
