Biodiesel and Ethanol Investing

New Zealand media Scoop Business reports that its unstable biofuels industry may now have the ability to move ahead due to proposed changes in biofuels legislation, a move welcomed by The Bioenergy Association of New Zealand (BANZ). However, with the loss of a guaranteed market, the industry urges the new Government to act quickly to prevent the industry from failing in the country. New Zealand’s ability to seize the opportunity and become self-sufficient in sustainable ‘home-grown’ liquid biofuels for transport will be slowed unless the repeal of the biofuels sales obligation is replaced promptly. One measure that changes previous legislation is a proposed introduction of a positive incentive system that would provide a separate tax credit for bioethanol, biodiesel and other renewable energy. New legislation is imperative to allow the biofuels industry to sustain itself and grow; otherwise, the industry could be uncompetitive and fail in New Zealand.