WASHINGTON--(BUSINESS WIRE)-- The Biotechnology Industry Organization (BIO) today co-signed a letter to leaders of the House and Senate sent by nine biofuel trade associations, environmental advocates, and agriculture policy groups expressing strong support for extending and maintaining federal policies that are critical to the ongoing development of advanced biofuels.
“Congress made an historic commitment to advanced biofuels in the Energy Independence and Security Act of 2007, as part of a comprehensive strategy to reduce oil dependence, improve national security, and spur economic growth. With gas prices recently spiking to record levels and remaining highly volatile, it is self-evident that the United States needs to develop homegrown alternatives to oil to protect American consumers at the gas pump,” the letter states.
“The advanced and cellulosic biofuels industry is now in the process of building new plants, innovating at existing production facilities with emerging technologies, and introducing new product streams that will allow the renewable fuels sector to become more profitable, diversified and efficient. Significant investment dollars are being secured with the expectation that Congress will remain committed to advanced biofuels. Rapidly commercializing these technologies will provide substantial oil savings to consumers with far lower environmental impacts than today’s fuels,” the groups go on to note.
Brent Erickson, executive vice president of BIO’s Industrial & Environmental Section added, “Because of the RFS, innovative U.S. companies in every corner of the nation have moved as rapidly toward commercialization as possible. These companies are at a critical juncture, with new biorefineries under construction and production coming online – at a time when major oil refineries are shutting down production capacity. In order to foster the U.S. lead in innovation, the federal government must continue to support development of the advanced biofuel industry. Private investment in the industry relies on policy stability.”
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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