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Talent Tours The State, Promoting Biodiesel FOR IMMEDIATE RELEASE: July 8, 2005 JEFFERSON CITY, Mo. – U.S. Sen. Jim Talent (R-Mo.) traveled the state this week to discuss the renewable fuels provisions he added to the energy bill. On the Statewide Energy Security Tour, Sen. Talent hosted events in Kansas City, Springfield, Jackson, Chesterfield, Palmyra, Kirksville and St. Joseph to detail how the bill will provide a blueprint for the supply, delivery and efficient use of various energy resources, including renewable fuels such as biodiesel and ethanol. The Senate passed the energy bill on June 28. “The Senate passed the strongest national standard for ethanol and biodiesel ever considered by the Congress,” said Sen. Talent, co-chair of the Senate Biofuels Caucus. “Now we need to resolve the differences between the House and Senate Energy bills. I am confident we will produce a final bill that includes a robust Renewable Fuels Standard (RFS).” The goal of the RFS, which includes tax incentives for biodiesel, ethanol and other alternative fuel sources, is to improve America’s energy security. Sen. Talent has made energy security a top priority during his term in office. He considers the energy bill to be the crux of many key issues. "Here’s what the energy bill means for Missouri: more jobs, economic growth and lower gas prices over the long term,” Sen. Talent said. Sen. Talent authored the RFS which he added to the energy bill. The measure would create a phase-in for renewable fuel over 7 years, beginning with 4 billion gallons by 2006 and ending at 8 billion gallons in 2012. It also provides that the renewable fuels requirement in 2013 and after will be no less than 8 billion gallons. “Jim Talent has once again proven himself to be a leader in value-added agriculture,” said Dale R. Ludwig, executive director/CEO of the Missouri Soybean Association. “He certainly deserves credit as a champion of renewable fuels, specifically biodiesel.” The Senator was also successful in adding two significant biodiesel tax incentives to the energy bill. The first bill is an extension of the $1.00 per gallon biodiesel tax credit designed to make soybean-based biodiesel fuels cost competitive with conventional diesel fuel. The extension would go through 2010. The second bill establishes a tax credit for biodiesel producers that make up to 60 million gallons of biodiesel per year. Both bills were added to the energy bill as part of a tax package which passed by a unanimous voice vote. The comprehensive energy bill is now set to go before a Conference Committee
that will reconcile the differences between the Senate and House-passed
bills. The U.S. House passed an energy bill that includes a smaller 5-billion-gallon
RFS. ###
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© Missouri Soybean Programs |