Wall Street Journal Publishes NATSO Letter to the Editor
NATSO President and CEO Max McBrayer urged Congress to reinstate the biodiesel blenders’ tax credit to help lower fuel costs, stabilize fuel supplies and strengthen demand for American agricultural product in a Letter to the Editor published Oct. 11 in the Wall Street Journal.
Responding to the WSJ’s Oct. 3 article, “Truckers Are Using Every Trick They Can to Survive Soaring Diesel Prices,” McBrayer said the biodiesel tax credit encouraged fuel retailers to blend biodiesel into petroleum diesel, expanding supply options while also driving demand for U.S. soybeans. “Trucking customers reaped the benefits, realizing tangible savings with every gallon pumped into their tanks, and farmers had more demand for their soybeans. A rare win-win.”
McBrayer said lapse of the biodiesel tax credit in 2024 “has ricocheted through the trucking sector,” where fuel represents one of the industry’s highest operating expenses. Loss of the biodiesel tax credit put upward pressure on the cost of all goods moved by truck. With more than 70 percent of all goods Americans purchase moving by truck, fuel prices are embedded in the cost of everything consumers buy.
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