Renewable Fuel Standard motivates industry to solve blend wall.
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Press Release Summary:
During Advanced Biofuel Leadership Conference, Brent Erickson, Executive VP of BIO's Industrial and Environmental Section, told attendees that the Renewable Fuel Standard was designed to reduce reliance on foreign oil in transportation; the so-called blend wall is not a reason to abandon it. According to Erickson, the United States still needs alternatives to oil to ease consumers’ pain at the pump, and development of advanced biofuels is key to energy security in the future.
Original Press Release:
The RFS Motivates Industry to Solve the Blend Wall, BIO's Brent Erickson Tells ABLC Attendees
WASHINGTON-- The Renewable Fuel Standard was designed to reduce our reliance on foreign oil in transportation; the so-called blend wall is not a reason to abandon it, Brent Erickson, executive vice president of the Biotechnology Industry Organization’s (BIO) Industrial & Environmental Section told attendees of the Advanced Biofuel Leadership Conference today. The conference runs April 15 -17 in Washington DC.
“The United States still needs alternatives to oil in order to ease consumers’ pain at the pump”
“The United States still needs alternatives to oil in order to ease consumers’ pain at the pump,” Erickson said. “Continued reliance on foreign oil is the cause of high fuel prices, not the Renewable Fuel Standard. Any weakening of the RFS will only hurt consumers. And continued development of advanced biofuels is key to our energy security in the future.”
“Oil refiners’ most recent complaints about the Renewable Fuel Standard’s impacts on American consumers are just distractions from the high price of oil,” Erickson continued. “The oil refiners have hastened the onset of the blend wall by destroying demand for transportation fuel through high prices. The Renewable Fuel Standard was intended to change the behavior of fuel producers to increase biofuel blending and reduce reliance on foreign oil. The RFS is not broken, in fact it is working as Congress intended.”
About BIO
BIO represents more than 1,100 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. BIO produces BIOtechNOW, an online portal and monthly newsletter chronicling “innovations transforming our world.” Subscribe to BIOtechNOW.
Upcoming BIO Events
BIO International Convention
April 22 – 25, 2013
Chicago, IL
World Congress on Industrial Biotechnology
June 16 – 19, 2013
Montreal, Quebec, Canada
Contacts
Biotechnology Industry Organization
Paul Winters, 202-962-9237
Web: www.bio.org
Blog: www.biotech-now.org
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