DES MOINES, Iowa聽(May 1, 2024)聽鈥撀燜ollowing yesterday鈥檚 release of guidance by the U.S. Department of Treasury and Internal Revenue Service on the 40B Sustainable Aviation Fuel (SAF) Credit, which incorporates an updated version of the GREET (Greenhouse gases, Regulated Emissions, Energy use in Technologies) model to measure the lifecycle emissions from SAF, Iowa Secretary of Agriculture Mike Naig provided the following comment:
鈥淎s the top producing state of lower cost and cleaner burning biofuels, sustainable aviation fuel is an emerging market with huge potential for Iowa agriculture.
Unfortunately, the Biden administration is once again telling Iowa farmers that Washington D.C. knows best. The administration’s proposal mandates rigid requirements that ignore the innovation of agriculture and fails to recognize farmers ability to incorporate the practices that work best for their individual operations. This administration has continually pursued a one-size-fits-all approach that puts domestic energy production, like homegrown ethanol, at a disadvantage to international competitors. Yesterday鈥檚 guidance is more of the same.
While inclusion of the GREET model is a welcome step, the details need to be right, and the administration has more work to do. I know Iowa鈥檚 Congressional delegation will be working to ensure that Iowa鈥檚 farmers and biofuel producers will be able to realize the full potential that SAF offers.鈥
