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BIO Expresses Gratitude for hearing on RFS.

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December 18, 2013 - BIO thanked Senate Committee on Environment and Public Works for holding hearing on Renewable Fuel Standard (RFS) and EPA's proposed rule for 2014. BIO's Brent Erickson called attention to advanced biofuel companies' "billions of dollars" of investments in building industry from ground up and noted how EPA's proposed rule will strand those investments, inhibit further investment/development, and threaten existing and future jobs as well as efforts to commercialize other biotech R&D.

BIO Welcomes Senate Environment and Public Works Hearing on RFS


Biotechnology Industry Organization
1201 Maryland Ave., SW, Ste. 900
Washington, DC, 20024
USA



Press release date: December 11, 2013

WASHINGTON--The Biotechnology Industry Organization (BIO) today thanked members of the Senate Committee on Environment and Public Works for holding a hearing on the Renewable Fuel Standard (RFS) and the EPA’s proposed rule for 2014. The EPA has proposed to decrease use of advanced biofuels in transportation in 2014, reversing the growth path of the RFS, which could slow commercial development of advanced and cellulosic biofuels, as well as other biotechnology applications.

“Setting the 2014 RFS obligations lower than the 2013 levels would mean that America will use millions more barrels of oil each year and add millions of tons of greenhouse gases into the atmosphere. Maintaining the RFS would result in a decrease of both.”

Brent Erickson, executive vice president of BIO’s Industrial & Environmental Section, said, “Advanced biofuel companies have invested billions of dollars in private capital to build a new industry from the ground up. EPA’s proposed rule will strand existing investments in advanced biofuels, severely curtail any further investment and development of future facilities, and put hundreds of thousands of existing and future jobs at risk. It could also harm efforts to commercialize other biotechnology research and development, such as renewable chemicals, that are growing out of the biorefinery platforms encouraged by the RFS.

“Setting the 2014 RFS obligations lower than the 2013 levels would mean that America will use millions more barrels of oil each year and add millions of tons of greenhouse gases into the atmosphere. Maintaining the RFS would result in a decrease of both.”

About BIO

BIO is the world's largest trade association representing 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. BIOtechNOW is BIO's blog chronicling “innovations transforming our world” and the BIO Newsletter is the organization’s bi-weekly email newsletter.” Subscribe to the BIO Newsletter.

Upcoming BIO Events

BIO CEO & Investor Conference
February 10–11, 2014
New York, NY

BIO Asia International Conference
April 8-9, 2014
Tokyo, Japan

World Congress on Industrial Biotechnology
May 12-15, 2014
Philadelphia, PA

BIO International Convention
June 23-26, 2014
San Diego, CA

Livestock Biotech Summit
September 16-18, 2014
Sioux Falls, SD

Contacts

Biotechnology Industry Organization (BIO)
Paul Winters, 202-962-9237
pwinters@bio.org
Web: www.bio.org
Blog: www.biotech-now.org
Twitter: @IAmBiotech
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