WASHINGTON--(BUSINESS WIRE)-- The Biotechnology Industry Organization (BIO) today expressed support for the Environmental Protection Agency’s denial of a January 2012 petition by petroleum industry representatives to retroactively waive the 2011 cellulosic biofuel Renewable Volume Obligation under the Renewable Fuel Standard (RFS). Brent Erickson, executive vice president of BIO’s Industrial & Environmental Section issued the following statement:
“U.S. biofuel companies have invested tens of millions of dollars and moved as rapidly as possible to commercialize new advanced biofuel technology. More than 30 companies have built and operated pilot and demonstration cellulosic biofuel biorefineries in every region of the United States to bring new technology to the marketplace. While some oil companies are closing oil refineries and cutting U.S. jobs, advanced biofuels companies are building biorefineries and creating jobs across America. The first companies are set to open commercial operations in coming months, and others have begun construction on large-scale facilities. These companies are investing here in the United States, generating new economic growth and creating high-paying employment opportunities.
“The RFS is a valid public policy tool that helps level the playing field for biofuel producers by assuring that competitively priced biofuels will have a path to the market. The rules have opened the market to conventional biofuels and biodiesel and produced measurable results for consumers. Drivers would have paid substantially more than $4.00 a gallon for fuel in recent months – and even higher costs for all other consumer products impacted by transportation costs – if not for the lower price of biofuels. U.S. consumers are at the mercy of world oil prices and some oil industry lobbying groups want to keep it that way. The biofuels industry is creating competition in the U.S. transportation fuel market that will benefit consumers.
“The RFS already provides extraordinary flexibility for obligated parties to comply. They can choose whether to purchase waiver credits, defer their obligations, or offer consumers alternative fuels. Forward-thinking energy companies have made their own significant investments in new advanced biofuel technology to ensure that they can meet the requirements of the RFS and remain competitive in the future. Meanwhile, some oil refining industry lobbyists continue to try to throw regulatory obstacles in the way of the advanced biofuel industry. We applaud the EPA for standing firm against these efforts.”
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.
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