BIO supports biofuels group creation and rulemaking efforts.
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Press Release Summary:
BIO applauded creation of Biofuels Interagency Working Group to develop program to support sustainable production of biofuels and coordinate various biofuels developments. Commenting on EPAs proposed rule for Renewable Fuel Standard, Jim Greenwood said it details how biofuels producers can improve energy efficiency and minimize greenhouse gas emissions. Greenwood also said advanced biofuels industry could add hundreds of thousands of jobs and contribute over $140 billion in economic growth.
Original Press Release:
BIO Applauds President Obama for Sending a Strong Positive Signal on Biofuels
WASHINGTON, D.C. (Tuesday, May 05, 2009) - Creation of a federal working group promises the government commitment needed by industry to ensure that biofuels will become a significant part of the U.S. transportation energy mix. The proposed rule for the Renewable Fuel Standard confirms that biofuels done the right way can reduce greenhouse gas emissions and reduce U.S. dependence on gasoline. The Biotechnology Industry Organization (BIO) today applauded President Barack Obama's announcement of a Biofuels Interagency Working Group tasked with developing a comprehensive program to support sustainable production of biofuels and welcomed the opportunity to offer comments on the Environmental Protection Agency's proposed rule for the Renewable Fuel Standard.
Brent Erickson, executive vice president of BIO's Industrial and Environmental Section, stated, "The Obama administration is sending a strong message to the industry that the federal government is commited to biofuels. This working group can better coordinate programs and help to stimulate the new investment needed to improve current biofuels production and rapidly commercialize advanced biofuels.
"Though a number of federal programs support biofuels, the resources to coordinate and fund these programs has been lacking. This working group can coordinate the development of new feedstocks, transportation and delivery of products, alternative fuel distribution networks and vehicles, and many other parts of the biofuel value chain. This decisive move by the Obama administration to form a high-level group to oversee the continued advancement of biofuels is the strong signal the marketplace has been waiting for in these tough economic times. BIO and its member companies thank President Obama for his leadership on this issue."
BIO previously asked federal policymakers to implement a comprehensive policy approach to support biofuels and biobased products deployment and to inject immediate capital for biorefinery construction, feedstock development, and fuel delivery infrastructure. The current economic crisis threatens to slow the deployment of advanced biofuel technology that is ready for market. Advanced biofuel producers must invest now in infrastructure and construction of biorefineries to meet the growth trajectory of the Renewable Fuel Standard in coming years.
Jim Greenwood, BIO president and CEO, added, "The proposed rule announced today by the EPA highlights ways that biofuels producers can continue to improve energy efficiency and reduce U.S. greenhouse gas emissions. Both conventional and advanced biofuels that employ industrial biotechnology can reduce U.S. greenhouse gas emissions from transportation significantly compared to petroleum gasoline. Biotechnology can help farmers and biofuel producers reduce carbon emissions by increasing yields from existing crop land; increasing yields of fuel per ton or bushel of raw material; and reducing fossil fuel inputs in agriculture and biorefining.
"The Energy Independence and Security Act called on EPA to conduct a life cycle analysis that fairly and accurately compares the amount of U.S. carbon emissions from biofuels and petroleum. The EPA's analysis has singled out biofuels for both domestic and international land use change impacts. Measuring carbon emissions from land use change is a new science that still contains many uncertainties, and changing basic assumptions about biofuel production, agricultural yield, and land management can dramatically affect the outcome of life cycle analysis models. We believe - and the EPA's initial analysis shows - that biotechnology will have an increasingly beneficial impact on energy intensity and land use within the biofuel production cycle.
"Advanced biofuels are a key part of the low-carbon economy of the future. Rapidly increasing U.S. production of advanced biofuels is a sound way to significantly reduce U.S. reliance on imported petroleum and carbon emissions associated with climate change. Continued federal support can help the industry weather the current credit crisis and the risk of oil price volatility. Development of the advanced biofuels industry could have the added benefits of producing hundreds of thousands of new green jobs and contributing more than $140 billion in economic growth."
BIO supports the production of biofuels from all feedstocks. Agricultural biotechnology is helping to increase crop yields, while industrial biotechnology is helping to convert crops, crop residues and other feedstocks into ethanol more efficiently. With ongoing advances in biotechnology, biofuels can help America meet nearly half its transportation-fuel needs by the middle of this century.
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May 15-17, 2009
Atlanta, GA
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About BIO
BIO represents more than 1,200 biotechnology companies, academic institutions, state biotechnology centers and related organizations across the United States and in more than 30 other nations. BIO members are involved in the research and development of innovative healthcare, agricultural, industrial and environmental biotechnology products. BIO also produces the BIO International Convention, the world's largest gathering of the biotechnology industry, along with industry-leading investor and partnering meetings held around the world.
