Coronavirus stimulus would provide indirect help for biofuels
The head of the Renewable Fuels Association says although there’s no direct assistance for biofuels, the economic stimulus package would help ethanol plants.
Geoff Cooper tells Brownfield several measures benefit producers.
“There’s some small business relief, loans and grants, and loan forgiveness. There’s some tax relief provisions that will be helpful to our member companies.”
He says the industry’s top priority right now is retaining its workforce.
“We have highly-skilled, highly-trained specialized workers, and we don’t want to lose them if a plant has to shut down for a period of time. We want to be able to continue to cover their wages and benefits.”
Cooper also expects at least one more stimulus package that could have more “sector specific” support.
He says the ethanol industry is reeling as Americans consume less fuel under guidance to self-isolate during the coronavirus pandemic.