Highest Biodiesel Subsidies in US History

April 19, 2004 [SolarAccess.com] Green Star Products, through its affiliated company American Biofuels (with a 35% ownership by GSPI), will be receiving, along with other biodiesel producers, the highest USDA biodiesel industry subsidies in history during the 2nd Quarter of 2004. The USDA set the subsidy for this period on March 18, 2004 at approximately $2.50 per gallon for West Coast producers. American Biofuels presently operates the largest biodiesel production facility West of the Mississippi. The U.S. Department of Agriculture Commodity Credit Corporation (USDA CCC) through its Bioenergy Program, pays the biodiesel subsidies quarterly. The subsidies are paid on a production basis, only for new plant production and in a lesser amount for base production, to those who have qualified as either biodiesel or ethanol producers. USDA subsidies are paid over and above the sale price of biodiesel, which now ranges from $1.90 to $2.30 per gallon on the West Coast. The USDA subsidy program is designed to support the building of a new alternative and sustainable fuels industry across the U.S.
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