Iowa has been one of the top producers of biodiesel for years. Several production plants across the state produce biodiesel, which in turn helps customers save money on alternative fuels.
Dr. David Kohl, an agricultural economist from Virginia, says biodiesel has a promising future.
But Kohl says one of the biggest challenges the biodiesel industry faces is that many Americans are at least two generations removed from the farming industry. He also says the industry faces regulation changes by the EPA which are a couple of years away. He says that and what goes on globally could make a big difference.
"What oil prices do worldwide and of course, we have to watch our governing agencies and they could be the two game changers," said Dr. David Kohl, professor emeritus at Virginia Tech University.
Kohl says biodiesel should continue to move forward unless oil prices drop dramatically, back into the $50 or $60 per barrel range.
Thursday, July 24 2014 2:45 PM EDT2014-07-24 18:45:46 GMT
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