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Share Name | Share Symbol | Market | Type |
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Chevron Corporation | NYSE:CVX | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
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-0.33 | -0.21% | 160.40 | 160.66 | 157.04 | 160.58 | 11,780,661 | 01:00:00 |
The Iowa Renewable Fuels Association is relaunching a statewide program designed to increase biodiesel usage on farms, the organization said Tuesday.
Farmers who buy a biodiesel blend can receive up to 50cts/gal for filling an on-farm tank in Iowa used in agricultural operations.
Response to a first round of funding in 2022 was positive, according to IRFA.
Farmers can earn 25cts/gal for filling up with B11 and 50cts/gal for using B20, up to a maximum credit of $500.
"IRFA is thrilled to be able to re-launch this program with $45,000 in available funding for 2023," Marketing Director Lisa Coffelt said in a statement. "Last year, we exhausted $35,000 in cash-back credits to almost 100 farmers who used higher biodiesel blends."
The Iowa Soybean Association and Iowa Biodiesel Board continue to partner with the program, providing $10,000. Biodiesel producers Western Iowa Energy, Western Dubuque Biodiesel and Chevron Renewable Energy Group each contributed $5,000. IRFA provides $20,000 in funding and manages the program.
The fuel must be delivered to a farm located in the state.
Program funding is to be awarded on a first-come, first-served basis.
This content was created by Oil Price Information Service, which is operated by Dow Jones & Co. OPIS is run independently from Dow Jones Newswires and The Wall Street Journal.
--Reporting by Michael Schneider, mschneider@opisnet.com; Editing by Jordan Godwin, jgodwin@opisnet.com and Michael Kelly, mkelly@opisnet.com
(END) Dow Jones Newswires
March 28, 2023 15:28 ET (19:28 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
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