Posted: Apr 9, 2012 8:28 AM by AP
Updated: Apr 9, 2012 8:29 AM
CHEYENNE, Wyo. (AP) - The owners of the only ethanol plant in Wyoming say they intend to continue in operation despite the end of the state's 17-year-old ethanol tax credit.
The Wyoming Tribune Eagle reports that the Wyoming Ethanol plant in Torrington will likely buy less corn from farmers in the state following the Legislature's decision earlier this year to end the subsidy.
Terry Oldfield is CEO of Renova Energy, the owner of the Ethanol plant. He says that fears the plant could close entirely are unlikely to come true.
The Legislature voted during this year's budget session to repeal the state's ethanol tax credit in 2015. Wyoming began subsidizing the production of ethanol in 1995.