Ohio state reps introduce bill to boost biodiesel production in the state
In Ohio, early last week, Representatives Bob Peterson (R-Sabina) and Roy Klopfenstein (R-Haviland), officially introduced the House Bill 1036. The bill aims to bring biomass-based diesel production back to the Buckeye State using a production tax credit. The Ohio Soybean Association (OSA) worked with both representatives to ensure this bill will have the maximum benefit to soy-based biofuel production, providing markets for Ohio soybeans that have not existed since biodiesel production left the state in 2022.
The bill comes at a time when fuel relief is desperately needed, with current average diesel prices in Ohio hovering around $6.29 per gallon. In states where soy-based biofuel production is well-established, like Missouri, recent B50 blends (50 percent biodiesel) at the wholesale level have been more than $2 cheaper than conventional diesel.
According to a recent study by S&P Global, the addition of just one 60-million-gallon biodiesel production facility in Ohio could reach a total economic impact of roughly $5 billion in output and activities cumulatively by 2040, with an annual average of $362 million across construction and operation phases.
Category: Policy
