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BIO and Other Groups Urge Congress To Preserve Renewable Fuel Standard


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Make Me React:Number One" Is Done, Make OPEC "Number Two" - An Open Letter To President Obama

WASHINGTON--May 17, 2011: The federal Renewable Fuel Standard provides the stable policy essential to attracting private investment to the development of advanced biofuels. The Biotechnology Industry Organization (BIO) today joined the Advanced BioFuel Association, the Renewable Fuel Association, the Advanced Ethanol Council and the American Coalition for Ethanol in a letter to leaders of the House Committee on Energy and Commerce and the Senate Committee on Environment and Public Works urging protection of the federal RFS.

“The Renewable Fuel Standard, as it has been implemented by the Environmental Protection Agency, provides the stable, market-based policy mechanism that advanced biofuel producers and investors have been looking for”

"The Renewable Fuel Standard, as it has been implemented by the Environmental Protection Agency, provides the stable, market-based policy mechanism that advanced biofuel producers and investors have been looking for," stated BIO President & CEO Jim Greenwood. "The RFS is an effective mechanism for incentivizing innovation within the biofuels industry. With this policy in place, industrial biotechnology companies already have made significant investments in research and development, producing successes at each stage. Advanced biofuel technology is ready for commercial deployment and it can provide good jobs and new economic opportunities.

"Access to capital remains the biggest challenge for the industry, especially as high oil prices threaten to plunge the country into another recession. Federal support must continue so that the advanced biofuels industry can build on the foundation created by the RFS and reach its potential commercial production levels. It provides both an assured market and a significant degree of price certainty for cellulosic and advanced biofuels, which can significantly mitigate the capital risk associated with commercialization of new technologies."

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 BIOtech NOW, an online portal and monthly newsletter chronicling "innovations transforming our world." Subscribe to BIOtech NOW.

The Advanced Biofuels & Climate Change Information Center presents the latest commentary and data on the environmental and other impacts of biofuel production. Drop in and add your comments, at Biofuel and Climate .

Upcoming BIO Events

Partnering for Global Health Forum 2011
June 27, 2011
Washington, DC

BIO International Convention
June 27-30, 2011
Washington, DC

2011 BIO Human Resources Conference
June 26-28, 2011
Washington, DC

The Business Forum at the BIO International Convention
June 28-30, 2011
Washington, DC

BIO India International Partnering Conference
September 21-22, 2011
Hyderabad, India

BIO China International Conference
October 12-13, 2011
Shanghai, China