12 December 2011 22:17 [Source: ICIS news]
HOUSTON (ICIS)--The Advanced Ethanol Council (AEC) issued a letter to members of Congress on Monday urging them to extend two renewable fuel tax incentives, which they say will ensure stability in the marketplace and prevent job losses.
In pushing the extension of the cellulosic biofuels producer tax credit (PTC) and the special depreciation allowance for cellulosic biofuel plant property, AEC executive director Brooke Coleman said incumbent energy sectors already have the types of tax incentives it is seeking to extend.
"As Congress considers the extension of a number of tax provisions for the clean energy sector, we would also like to highlight the importance of timing,” Coleman said. “The mere prospect of the expiration of the PTC and special depreciation allowance for cellulosic biofuels in 2012 will start to affect projects that take 18 months to build, and could drive our industry into a series of ‘fits and starts’ that has dampened investment in other domestic clean energy sectors for decades.”
Both tax incentives expire on 31 December 2012.
For more on ethanol and biofuels visit ICIS chemical intelligence
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections