RFA: CBO take on biofuel tax credits ignores big picture

07/15/2010 | DomesticFuel.com

The Congressional Budget Office's recent report on the cost of biofuel tax credits fails to provide a "holistic" view of the benefits of biofuels compared with the harm caused by fossil fuels, said Bob Dinneen, president and CEO of the Renewable Fuels Association. The report also does not give credit to the constant innovations in the ethanol industry, which have increased yields while lowering energy consumption, Dinneen said. "It appears CBO has chosen to take a narrow, time-constrained look at the issue and has failed to consider the much larger picture," he added.

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