BIO Says Advanced Biofuel Sector needs RFS to continue working.
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Press Release Summary:
BIO submitted written testimony to House Oversight and Government Reform Subcommittee on Energy hearing, "Up Against the Blend Wall: Examining EPA's Role in the Renewable Fuel Standard." Citing "research and development of new energy crops and in commercializing innovative new fuel technologies," BIO's Brent Erickson said RFS "is working as intended." He also said future investment depends on assurance of stable federal policy and promotion of competition in U.S. fuel market.
Original Press Release:
The Advanced Biofuel Sector Needs the Renewable Fuel Standard to Continue Working, BIO Says
WASHINGTON--The Biotechnology Industry Organization (BIO) today submitted written testimony to the House Oversight & Government Reform Subcommittee on Energy hearing, “Up Against the Blend Wall: Examing EPA’s Role in the Renewable Fuel Standard.”
“It is regrettable that the House Oversight Subcommittee did not invite the advanced biofuel industry to testify about the measurable results we’ve achieved under the RFS”
“The Renewable Fuel Standard is working as intended,” said Brent Erickson, executive vice president of BIO’s Industrial & Environmental Section. “Advanced and cellulosic biofuel companies have invested billions of dollars in furthering research and development of new energy crops and in commercializing innovative new fuel technologies. They are ready to invest more if they are assured that federal policy will remain stable and continue to clear a path and promote competition in the U.S. fuel market.”
“It is regrettable that the House Oversight Subcommittee did not invite the advanced biofuel industry to testify about the measurable results we’ve achieved under the RFS,” Erickson continued. “The first commercial cellulosic biofuel refineries are starting up, and more are scheduled to come online over the next few years. The industry is creating jobs and investment opportunities in nearly every state. Moving the goalposts on the industry by undermining the RFS will unnecessarily halt their progress and postpone achieving the nation’s goals of energy security and a healthier economy and environment.”
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.
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June 16-19, 2013
Montreal, Canada
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October 8-9, 2013
San Francisco, CA
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December 8-11, 2013
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Contacts
Biotechnology Industry Organization
Paul Winters, 202-962-9237
Web: www.bio.org
Blog: www.biotech-now.org
Twitter: @IAmBiotech
