Animal Waste For Biofuel Gets $100 million Tax Relief
Dynamic Fuels a joint venture set up by food giant Tyson and Syntroleum has been approved by the Louisiana State Bond Commission for $100 million in tax exempt Gulf Opportunity Zone (GO Zone) Bonds. This is the maximum amount that can be granted for a project under existing policy guidelines of the state board.
I appreciate this effort by the government to promote all forms of renewable energy.This significant incentive would definitely enable fast track Dynamic fuels production capability by 2010.Additionally it would also enhance the long term profitability of Dynamic fuels,which already has the infrastructural and organizational support of two large corporations.
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Comments
Srikant RajanResearch on renewable technologies is essential but it is equally important
to establish the commercial feasibility of a new technology/venture…tax cuts
provide the necessary impetus for a venture in its nascent stage… however that
does not mean that we should consider them a long term
requirement…..finally the whole process of using animal wastes would not
drastically reduce environment impact …as pointed its a drop in the sea…but
again a sea is made of millions of drops!!!!!!
June 22, 2008
Great announcment.
Actually, using animal waste will be helpfull for the environment.
However, it will not dramaticaly change the energy balance, since it is just a drop in the sea of required energy resources. Other sources must be discovered or advanced in order to make the renewable energy goal more reachable. I think that they should invest the money in research and not in tax relief, which is more popular, but less effective.
drs last blog post..Did you know?! – The history of global warming debate