Iowa Governor Kim Reynolds has introduced legislation to increase biofuels usage. The Iowa Biofuels Initiative would phase in fuels sold in the state that incorporate increased blends of home-grown energy including soy-based biodiesel and corn-based ethanol beginning in 2022. The Iowa Soybean Association supports the legislation and Sr. Director of Market Development Grant Kimberley says moving to a B11 biodiesel standard is a win for farmers and the entire state.
He says the initiative will directly increase biodiesel use, plus soybean production and prices. Biodiesel adds 13-percent to the net market value of soybeans, which equated to $1.17 per bushel last year.
Kimberley says Iowa’s biodiesel industry stands ready for the initiative and can produce the added gallons needed.
Kimberley says biodiesel is cleaner and more environmental than petroleum-based fuels and is a ready answer to lowering carbon emissions. Biodiesel supports nearly 4,000 jobs in Iowa and contributes almost $500 million to the state’s economy.