New York City Break
Recent tax breaks for the use of renewable fuels for home heating use introduced in New York City have seen fuel suppliers scrambling to update their storage and distribution facilities to enable them to take advantage and supply
customers looking to ‘green up’ their fuel usage.
The breaks, in the form of credits rewarding the use of both B100 (pure biodiesel) and also biodiesel blended with conventional home heating oil, were introduced in July 2006 and residential home heating customers need to buy their bioheat before July 2007 to qualify in the current tax year. In addition, one NYC supplier of fuel for school bus fleets and other business fleets has already modified its facility, and is known to be making arrangements to add B100 to diesel as well. This will allow them to push more B100 through the terminal and enjoy more tax breaks.
Motivated by the growth of the biofuels market generally, Metro Fuel Oil Corp is one of numerous small privately owned fuel suppliers in the city that is shortly to modify storage facilities with the introduction of new automation technology, in this case MultiLoad and TMS supplied by Florida, US-based Toptech.
