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Cantwell, Grassley IntroduCe BIpartIsan BIodIesel tax CredIt BIll U.S. Senators Maria Cantwell (D-WA) and Chuck Grassley (R-IA) introduced biparti- san legislation to reinstate a tax incentive for the production of domestic biodiesel. The measure, the Biodiesel Tax Incentive Reform and Extension Act of 2014, or S. 2021, would reform and extend the $1-per- gallon tax credit for biodiesel producers through 2017 after Congress allowed the law to lapse at the end of 2013. Congress has allowed the credit to expire three times since the end of 2009. Specifically, the Cantwell-Grassley measure: • Provides a $1 per-gallon tax credit for the production of biodiesel, renewable diesel and aviation jet fuel that complies with fuel standards and Clean Air Act requirements. • Increases the credit from $1 to $1.10 for the first 15 million gallons of biodie- sel produced by small producers with an annual production capacity of less than 60 million gallons. • Eliminates potential abuses and simpli- fies how the tax is administered by restricting the credit to fuel producers and excluding fuel blenders from eligibility. By focusing on production, this bill would eliminate any remaining opportunity for abuse known as "splash and dash" in which oil companies add a few drops of biodiesel to petroleum diesel to qualify for the tax credit. The change also ensures the credit benefits domestic producers – the old law allowed blenders to receive the credit for blends that included foreign-imported biodiesel. • Simplifies the definition of "biodiesel" to encourage production from any biomass- based feedstock or recycled oils and fats. • Tightens compliance and reduces administrative burdens on taxpayers by simplifying the coordination between the income tax credit and the excise tax liability. • Extends this tax credit for three years, giving needed financial predictability so that more facilities can be brought online in the United States. The tax incentive helps biodiesel com- pete with petroleum diesel, stimulating production and ultimately lowering costs for consumers. Cantwell has led several successful bipartisan efforts to extend the biodiesel credit since it was first established in 2005, more than 25 years after the creation of a similar credit for ethanol. The biodiesel production tax credit helped encourage the production of biodiesel from 25 million gal- lons in 2004 to 690 million gallons in 2008. In 2011, the biodiesel industry was estimated to generate nearly $1.7 billion in income and create more than $3 billion in GDP. new InfoGraphIC shows how BuyInG u.s. oIl Creates JoBs AMERIgreen, a local energy wholesaler, just released a new round of research and an infographic to show the effects of buy- ing American fuel. "We wanted to create an engaging way to educate the public about the importance of 100% American fuel," says AMERIgreen President Steve McCracken. "Most people do not know they have a choice when selecting where their fuel comes from, and that their choice helps support the American econ- omy, creates American jobs and increases American energy security." AMERIgreen sells 100% domestically produced petroleum, biofuels, natural gas, electricity and propane to distributors in the Mid-Atlantic and New England regions. In recent research, AMERIgreen took 2012 oil production and consumption statis- tics and revealed how foreign consumption affected the U.S. economy. AMERIgreen's infographic showcases $380 billion dollars in terms of the trade defi- cit, the 2009 stimulus package and the Iraq War budget. Foreign oil expenditures could have funded half the stimulus bill or half the Iraq War, according to the company. Many American companies have imple- mented "Buy Local" and "Buy American" campaigns in the last few years, showing the impact of shopping U.S.-made products and local businesses. AMERIgreen demonstrates that for every dollar spent on oil, $0.60 leaves the U.S. economy. If that money had stayed in the U.S. it could have generated $1 trillion in new economic activity, and created 3 mil- lion new jobs. "We are passionately committed to our mission. At AMERIgreen we work every day to improve America's energy freedom and sustainability for today and future gen- erations. We are proud to have our 100% American fuel distributors be committed partners responsible for displacing 26 million gallons of foreign oil with their customers in 2012," McCracken stated. To see the infographic, visit: http://www. amerigreen.com/benefitsbuyingamerican- fuel.aspx. peI seeks Comment on Generator and oIl Burner fuelInG systems doCument The Petroleum Equipment Institute is currently seeking comment on a new rec- ommended practices document entitled Recommended Practices for the Design and Installation of Fueling Systems for Emergency Generators, Stationary Diesel Engines and Oil Burner Systems (PEI/RP1400). All architects, engineers, system opera- tors, regulators, contractors, consultants, end users installing systems and manufacturers of generators and oil burner systems are invited to comment. The public comment period closes March 31, 2014. The purpose of this document is to pro- vide concise and consistent recommended practices for the design and installation of www.fueloilnews.com | fuel oIl news | marCh 2014 3 DATELINE • Bipartisan Biodiesel Tax Credit Bill • NYA CS' Dick Warrender Passes STATES - pg 10 • CEMA President Asks Governor for Immediate Moratorium on State Natural Gas Plan FUELS - pg 10 • Biodiesel Industry Sets Production Record BUSINESS OpErATIONS - pg 22 • Oilmen's Truck Tanks Offers Aftermarket Safety Rail System for Trailers and Truck Tanks • Superior Plus Energy Fuels Breast Cancer Prevention and Research HVAC/HyDrONICS - pg 37 • Honeywell Introduces Remote Monitoring Service • General Filters, Inc. Completes Acquisition of Air & Energy Products, LLC Featured News DateliNe BREAkING NEWS