2013 is a landmark year in the petroleum industry as it marks the 100th year of tax payer subsidies to petroleum. Today, Iowa can take pride in its leadership in biofuels, and now that Congress has extended the biodiesel tax credit for another year, the biodiesel industry can be expected to grow even more than it did in 2012. The state ranks second in having the highest number of installed wind-energy generators and is recognized as receiving over 20% of its electricity from wind generation.
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WASHINGTON - Days after a federal appeals court said the Obama administration is setting overly optimistic production quotas for the struggling biofuels industry, the government issued new standards Thursday that raise production estimates for 2013.
New standards announced by the Environmental Protection Agency require production of 14 million gallons of so-called cellulosic biofuels made from grasses and woody material. That's up from an 8.7 million-gallon requirement in 2012 — when actual production was near zero.