WASHINGTON (April 30, 2024) Today the U.S. Department of Treasury released final tax credit guidance for sustainable aviation fuel (SAF) production. The new guidance allows the use of the Greenhouse Gases, Regulated Emissions, and Energy Use in Transportation (GREET) model favored by the ethanol industry to determine the greenhouse gas emissions from aviation fuel production and use.
President Joe Biden has ordered a pause in federal government approvals for LNG export facility construction to consider the effect of LNG on climate change
The decision comes as Biden shores up his liberal base in an election rematch against likely Republican candidate Donald Trump, who called global warming a “hoax” and vowed to torpedo his Democratic opponent’s climate agenda.
WASHINGTON (December 15, 2023) – Today the U.S. Treasury Department released new guidance for so-called “sustainable aviation fuel” (SAF) tax credits that could allow jet fuel made from corn ethanol or vegetable oils to qualify for generous subsidies. The Inflation Reduction Act (IRA) created a tax credit for sustainable aviation fuels (SAF) that reduce emissions by at least 50%. This tax credit is intended to help the aviation industry meet its decarbonization goals.