ConocoPhillips said Wednesday it has halted its collaboration with Tyson Foods Inc. to make diesel fuel from animal fat.
The company said it idled the project in the fall after federal tax credits that helped fund the project were cut in half. Tyson supplied ConocoPhillips with animal fat from its meat processing operations, which the energy company processed into biofuel at its Borger, Texas, refinery.
Speaking to reporters after the ConocoPhillips's shareholder meeting in Houston, Chief Operating Officer John Carrig said production could resume if government incentives are reinstated.
(Source: WSJ)
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