Obama Visits Missouri Biorefining Plant

Obama Visits Missouri Biorefining Plant

Growth Energy, ASA both feel visit supportive of biofuels.

A crowd that included farmers, families, plant workers, local business owners and community members, welcomed President Obama to POET-Biorefining in Macon, Mo. Wednesday. At the plant, the President talked to workers and shared his ideas for rebuilding our nation's long-term economy.

In his campaign for the White House, then-Senator Barack Obama toured a new ethanol plant in Charles City, Iowa, and said that America's ethanol use ultimately helps our national security, because right now we're sending billions of dollars to some of the most hostile nations on earth.

Growth Energy CEO Tom Buis attended Wednesday's talk and said that we've come a long way toward the goal of energy independence and look forward to working together with President Obama and Congress in addressing our nation's economic and energy challenges.

The American Soybean Association says President Obama's visit highlights the role the biofuels industry can play in the creation of green jobs and drive economic development while benefiting the environment. The visit also underscores the urgent need for Congress to quickly pass a retroactive extension of the biodiesel tax incentive.

ASA President Rob Joslin says Congress needs to prioritize passage of a retroactive extension of the biodiesel tax incentive. The incentive, which is structured as a federal excise tax credit, amounts to a penny per percentage point of biodiesel blended with petroleum diesel. The young biodiesel industry relies on this support to make biodiesel more competitive with petroleum diesel, and lower the cost of biodiesel to the end consumer.

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