Agriculture Department Makes Available $150 BioMass Fuel Subsidy

Subsidy aims to boost production and use of biomass fuels over next two years.

Published: 03-Nov-2000

WASHINGTON (AP) -- Companies that make ethanol, biodiesel and other fuels from farm products will be offered direct government subsidies to buy crops such as corn and soybeans.

Payments will be capped at $7.5 million per company, under the two-year program announced Tuesday by the Agriculture Department. The subsidies will range from 29 percent to 40 percent of the cost of the crops, depending on the size of the company.

``This program will help us tap into a huge domestic energy reserve, our family farmers,'' said Agriculture Secretary Dan Glickman. ``Encouraging the use of bioenergy benefits America's farmers, while improving our energy security and helping to protect the environment.''

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