U.S. biodiesel industry continues to struggle

The U.S. biodiesel industry continues to struggle at a time when its product should be helping reduce U.S. reliance on petroleum-based fuels. First, Congress’ failure to extend the biodiesel tax incentive forced a number of biodiesel plants to shut down. More recently, the European Union has issued a Renewable Energy Directive or RED that could have an adverse impact on U.S. production. The American Soybean Association’s Steve Wellman discussed the latter during a news conference.

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