The Minnesota Soybean Growers Association joined the soy advocacy community in signing onto a letter urging Congressional leaders to support the Biodiesel Fuel Education Program in FY 2022 appropriations and legislation to extend the Biodiesel Tax Credit to 2025.
“As Congress develops legislation to address the nation’s infrastructure, climate and economic priorities, we ask that you support continued growth of the biodiesel and renewable diesel industry,” the letter stated. “U.S. biodiesel and renewable diesel producers are meeting America’s need for better, cleaner transportation fuels right now. We are also generating economic, environmental and health benefits for many states and communities.”
ASA is also encouraging advocates to visit the Soy Action Center to contact their U.S. senators to support the appropriations and tax credit.
In 2018, the U.S. transportation sector used 2.6 billion gallons of biodiesel and renewable diesel, supporting more than 65,000 jobs and $17 billion in domestic economic opportunity. In 2020, the market grew to 3 billion gallons. Every 100-million-gallon increase in production supports 3,200 additional U.S. jobs and $780 million in new economic development. NBB forecasts the industry can grow to 6 billion gallons by 2030.
The biodiesel industry in Minnesota alone now contributes more than 5,000 jobs, and generates nearly $1.7 billion in economic activities in the state. It also boosts demand for soybeans by an estimated 13% and adds at least 63 cents to each bushel of soybeans. Minnesota boasts biodiesel plants in Albert Lea, Brewster and Isanti, which produce approximately 85 million gallons of the renewable fuel each year.