BIO Says EPA Must Improve Renewable Fuel Standard administration.
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Press Release Summary:
According to BIO, EPA delays in administering Renewable Fuel Standard (RFS) generate uncertainty for advanced biofuel industry and undercut investment. BIO President and CEO Jim Greenwood cited EPA's failure to issue final 2014 RFS rule and other administrative delays as misconstrued as indicative of broken program but reassured that that same program has worked to spur innovation and growth in biofuels space and subsequently reduce U.S. GHG emissions and reliance on foreign oil.
Original Press Release:
EPA Must Improve Administration of the Renewable Fuel Standard, Not Seek Legislative Change to It, BIO Says
WASHINGTON – The Environmental Protection Agency’s (EPA) delays in administering the Renewable Fuel Standard (RFS) generate uncertainty for the advanced biofuel industry and undercut investment, the Biotechnology Industry Organization (BIO) said today in reaction to the House Oversight and Government Reform Subcommittee on Energy Policy, Health Care & Entitlements’ hearing on the agency’s administration of the program.
“The RFS works for companies that invest in, build and start up new advanced and cellulosic biorefineries here in the United States. This year, several new, large-scale cellulosic biofuel facilities began operations. The cleaner, smarter transportation fuel future we have hoped for is here.”
BIO President & CEO Jim Greenwood stated, “EPA’s failure to issue a final 2014 RFS rule and other ongoing administrative delays are being misconstrued by some in Congress as a sign that the program is broken. Nothing could be further from the truth. The underlying program has worked as intended to spur innovation and growth in the biofuels space, reducing our reliance on foreign oil along with greenhouse gas emissions.
“The RFS works for companies that invest in, build and start up new advanced and cellulosic biorefineries here in the United States. This year, several new, large-scale cellulosic biofuel facilities began operations. The cleaner, smarter transportation fuel future we have hoped for is here.
“Unfortunately, EPA’s ongoing delays have chilled investment and financing of future projects, even as first-of-a-kind cellulosic biofuel plants start operations. The agency’s attempt to change the program to benefit the oil industry was unwarranted. And ongoing uncertainty about the future of the program will only further starve the advanced biofuel industry of necessary investment.
“Our hope is that Congressional oversight will result in greater regulatory efficiency by EPA in managing the RFS program.”
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.
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Contacts
Biotechnology Industry Organization (BIO)
Paul Winters, 202-962-9237
Web: www.bio.org
Blog: www.biotech-now.org
Twitter: @IAmBiotech
