Biocentric Energy Holdings, Inc. (BEHL)

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Renewable Energy Reduces Output, Cuts Jobs on Tax Credit Lapse
http://www.businessweek.com/news/2010-02-01/renewable-energy-reduces-biodiesel-output-cuts-jobs-update1-.html

"Feb. 1 (Bloomberg) -- Renewable Energy Group Inc., the largest U.S. biodiesel producer, said it has reduced output, cut pay and laid off workers, because a tax credit wasn’t extended.

The company, which runs a network of biodiesel plants with capacity to produce 300 million gallons annually, is producing at about 15 percent of capacity and has laid off about 21 employees so far, Chief Executive Officer Jeffrey Stroburg said today in a telephone interview.

“We began some layoffs and we’ve also taken pay cuts across the board,” he said. “With the uncertainty of the tax credit, fewer and fewer people are jumping up to take that risk” of buying biodiesel.

The credit, which expired at the end of 2009, provided $1 to refiners for every gallon of biodiesel blended into conventional diesel. Congress didn’t extend the tax credit because of pressure to pass health-care legislation before the holiday recess.