“Better late then never": USDA announces long-delayed biofuel pandemic aid
The biofuels industry is responding to USDA’s release of hundreds of millions of dollars in pandemic aid.
The $700 million dollar program was approved by Congress two years ago, under the Trump administration. However, the Biden administration put it on hold, as it conducted a review of how money was being distributed.
Geoff Cooper, with the Renewable Fuels Association, calls it a “long-awaited sigh of relief for the biofuel industry.”
“The ethanol industry was promised two years ago that there would be some assistance and some emergency relief provided to the industry to help offset some of the devastating losses that were experienced during COVID, and it’s just taken that long. It’s taken the better part of two years to get this program finally implemented at USDA, and it certainly is better late than never. The industry is very appreciative of this relief funding,” Cooper adds.
He also notes that the biofuel sector is still recovering from losses well above the $700 million dollars. Though the program was never technically intended for this it will help get it back on its feet.