ALTERNATIVE FUELS * USA - Feds Back Biofuel with Waste-to-Ethanol Plant

 BioEnergy Center able to produce 8M gallons of ethanol a year as well as 6 megawatts of power

Washington,DC,USA -Green Car Advisor -Jan. 7, 2011:   --   $75M loan guarantee by U.S. Ag Dept to petrochemical INEOS, advanced biofuels developer New Planet Energy, for construction of FL plant to convert waste into ethanol. Companies said BioEnergy Center able to produce 8M gallons of ethanol a year as well as 6 megawatts of power...   By processing yard, wood, vegetative, and solid waste through an anaerobic fermentation process...   Illustrates Fed's willingness to invest in biofuels to cut dependence of foreign oil while spurring domestic economy...  President Obama signed $858B tax package that extended federal ethanol tax credit. Retroactively extended biodiesel tax incentive and renewable diesel incentive...  Ethanol/biodiesel advocates said bill may save hundreds of thousands of jobs while lessening foreign oil dependence...   About 112K jobs lost if tax credit for ethanol producers not extended, Renewable Fuels Association estimated...   Some particularly vocal in opposition to biofuel tax-credit extension. Said government subsidy uses valuable food production acreage for transportation fuel, causing food price increase... (Image: The Indian River County Facility is slated to be complete in 2011)