Biofuel Production to Boost Agriculture

The Obama Administration announced a new plan to boost the biofuel production that will result in a $13 billion growth in farm income.
The USDA released a report that envisions different types of feedstocks (switchgrass, sugar cane and oil seed for example) to be grown in specific areas to create 36 billion gallons of biofuel annually. This would triple current production.
USDA Secretary Tom Vilsack said the increase would create thousands of green jobs across the country. It would also help the United States achieve energy independence.
Farmers interested in growing crops for biofuel may be eligible for funding from the 2008 Farm Bill that distributes guaranteed payments to farmers and landowners for collection, harvest and transportation of biomass to a qualified biomass conversion facility.
Looking to refinance your farm loan before inflation hits? Farm Loan interest rates starting at 2.99% and terms up to 25 years. See our rate sheet or call 866-929-5585 to speak with a representative.