EPA's Inaction on 2014 RFS Rule means continued uncertainty.
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Press Release Summary:
According to BIO, EPA's decision to not finalize the 2014 Renewable Fuel Standard for this year continues the atmosphere of uncertainty for the advanced biofuel industry. RFS supports companies that invest in, build, and start up new advanced and cellulosic biorefineries here in the U.S. Delay in this year’s rule already has chilled investment and financing of future projects, even as first-of-a-kind cellulosic biofuel plants are right now starting up operations.
Original Press Release:
EPA's Inaction on the 2014 RFS Rule Means Continued Uncertainty for Advanced Biofuel Development, BIO Says
EPA's Inaction on the 2014 RFS Rule Means Continued Uncertainty for Advanced Biofuel Development, BIO Says
WASHINGTON -- The Environmental Protection Agency’s decision to hold the 2014 Renewable Fuel Standard (RFS) continues the atmosphere of uncertainty for the advanced biofuel industry, the Biotechnology Industry Organization (BIO) said today in reaction to EPA’s announcement that it will not finalize a standard for this year.
“We appreciate that EPA will not be finalizing a proposed 2014 RFS rule containing a flawed methodology for setting the renewable fuel volumes. We will continue to work with the agency to get this successful program back on track as soon as possible.”
BIO President & CEO Jim Greenwood stated, “We appreciate that EPA will not be finalizing a proposed 2014 RFS rule containing a flawed methodology for setting the renewable fuel volumes. We will continue to work with the agency to get this successful program back on track as soon as possible.
“The RFS supports companies that invest in, build and start up new advanced and cellulosic biorefineries here in the United States. It’s clear that the advanced biofuel industry has made rapid strides to increase production capacity to meet the annual volume requirements. Unfortunately, the delay in this year’s rule already has chilled investment and financing of future projects, even as first-of-a-kind cellulosic biofuel plants are right now starting up operations. The industry needs a final rule that is legally appropriate and continues to support our efforts.”
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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