Fuel Oil News

Fuel Oil News May 2016

The home heating oil industry has a long and proud history, and Fuel Oil News has been there supporting it since 1935. It is an industry that has faced many challenges during that time. In its 77th year, Fuel Oil News is doing more than just holding

Issue link: https://read.dmtmag.com/i/668638

Contents of this Issue


Page 2 of 51

www.fueloilnews.com | FUEL OIL NEWS | MAY 2016 3 DATELINE BREAKING NEWS Depreciation Allowance for Second Generation Biofuel Plant Property, the Biodiesel and Renewable Diesel Fuels Credit, the Alternative Fuel and Alternative Fuel Mixture Excise Tax Credit, and the Alternative Fuel Vehicle Refueling Property through the Protecting Americans From Tax Hikes Act of 2015, which became law on Dec. 18, 2015. While other energy production tax credits were extended through 2019, these provisions expire at the end of 2016. The letter states, "This short-term expiration of tax incentives is jeop- ardizing the long-term investment necessary for advanced biofuels. This creates uncertainty for investors and industry about the availability of these credits in the future. As leaders in a critical innovation sector in the United States, we are well aware of the financial constraints facing this country. However, as Congress works on developing energy tax extenders legislation, we urge you to ensure that advanced biofuels are part of the package. Extending some 2016 expiring energy tax provisions and not others creates a piecemeal approach and investment uncertainty across the energy sector and distorts the playing field for biofuel producers." Tom Buis, co-chair of Growth Energy, stated, "These incentives are important in providing certainty for investment into second-generation biofuels." Brooke Coleman, executive direc- tor of the Advanced Biofuels Business Council, added, "There is no good ratio- nale for letting temporary tax breaks for advanced biofuels expire against the backdrop of ongoing, permanent and substantial subsidies to fossil fuels. Congress must extend advanced biofuel tax incentives as long as our competitors in the sector—oil and gas—continue to receive special allowances from the fed- eral government. To do otherwise would be to further distort private investment toward oil and gas." R e n e w a b l e F u e l s A s s o c i a t i o n President and CEO Bob Dinneen said, "Short-term tax incentives are akin to new drivers in a stick shift vehicle. The cars haltingly lurch forward for a time, but suddenly stall. The advanced biofuel industry needs certainty if it is to remain commercially viable, as it continues to bring new facilities and technologies online. Longer term incentives would FEATURED NEWS DATELINE • API: Administration's Policy Shuns Consumers, National Security and Weakens Energy Future • Biofuel Trade Groups Ask Congress to Extend Biofuel Incentives • NORA Consumer Education Outreach Exceeds Expectations • AEC: U.S. Senators Don't Want Natural Gas Pipeline FUELS/EIA – pg 12 • Biodiesel Ranks First in Alternate Fuel Use by Fleets • Sprague Marks 10 Years of Biodiesel in Albany, N.Y. • Scully Names New CEO and Management Team • White Mountain Biodiesel Plans Expansion and Direct Sales to Retail • EIA: Mild Weather, Ample Supply Curb Northeast Natural Gas Prices BUSINESS OPERATIONS – pg 26 • The Work Truck Show 2016 Sets Attendance Record • Branding In Language-Misty Sexton HVAC/HYDRONICS – pg 35 • Weil-Mclain Launches 2016 'School Of Better Heating' • ASHRAE Grant-in-Aid Funds Human Thermal Comfort Database • Uponor in Intellectual Property Agreement with Heatlink Group and Pexcor Manufacturing • Energy Conservation Standards are Set for Commercial Packaged Boilers • NORA Releases Product Development Program Opportunity Notice • NORA Revises Gold Technicians' Certification API: ADMINISTRATION'S POLICY SHUNS CONSUMERS, NATIONAL SECURITY AND WEAKENS ENERGY FUTURE API President and CEO Jack Gerard said the administration's offshore oil and natural gas policy is inconsistent with the will of voters, governors and members of Congress who overwhelmingly support offshore oil and natural gas exploration and development. "This is not how you harness America's economic and diplomatic potential," said Gerard. The administration's energy pol- icy undermines the nation's ability to be a global energy leader, Gerard said. The administration's policy "stunts the safe and responsible path to securing the domestic energy supplies future genera- tions of Americans will need," Gerard said, adding that it also "wipes out an oppor- tunity to create scores of additional new jobs for Americans along the Atlantic coast and nationwide, while also erasing mil- lions more in revenue to the government. Expanding offshore development is a key part of that equation." API, the American Petroleum Institute, is a national trade association representing the oil and natural gas industry. BIOFUEL TRADE GROUPS ASK CONGRESS TO EXTEND BIOFUEL INCENTIVES Biofuel trade associations sent a let- t e r t o H o u s e a n d S e n a t e l e a d e r s asking Congress for a multiyear exten- sion of advanced biofuel tax credits. T h e A d v a n c e d B i o f u e l s B u s i n e s s Council, Algae Biomass Organization, Biotechnology Innovation Organization, Growth Energy, National Biodiesel Board and Renewable Fuels Association sent the request in a letter to Senate and House leaders, Senate Committee on Finance leaders, and House Ways and Means Committee leaders. Congress granted a two-year exten- sion to the Second Generation Biofuel P r o d u c e r T a x C r e d i t , t h e S p e c i a l

Articles in this issue

Links on this page

Archives of this issue

view archives of Fuel Oil News - Fuel Oil News May 2016