Biofuels’ Environmental Benefits Are Growing, BIO Tells House Energy & Commerce Committee

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WASHINGTON--(BUSINESS WIRE)-- The Biotechnology Industry Organization (BIO) today submitted comments in response to the House Energy & Commerce Committee’s third white paper on the Renewable Fuel Standard, “Greenhouse Gas Emissions and Other Environmental Impacts.”

Brent Erickson, executive vice president of BIO’s Industrial & Environmental Section, wrote in the comments, “Given BIO’s broad and diverse set of member companies involved in energy, manufacturing and agricultural production, we are able to provide a unique perspective on the issues the Committee is seeking to have answered.”

“Congress established the RFS to encourage the use of existing biofuels and the development of advanced biofuels in order to reduce our reliance on the rising cost and price volatility of foreign oil and reduce greenhouse gas emissions,” Erickson continued. “It is crucial we maintain the RFS in order to spur on alternative energy production and mitigate environmental impacts of petroleum. In fact the RFS is one of the rare cases of an existing and functioning greenhouse reduction program. A repeal or reduction in the RFS would be tantamount to environmental backsliding.”

Erickson’s response concluded, “While primarily an economic and energy security policy, the RFS has already resulted in environmental benefits from the transportation fuel sector, including dramatic reductions in greenhouse gas emissions, and offers the potential for substantial additional benefits in the decades to come. Realization of these future benefits is dependent on the ability of advanced biofuel developers to raise the capital necessary to build out a national advanced biofuel industry. That ability is critically dependent on the legislative stability and consistent implementation of the program. The best thing Congress can do to achieve these future benefits is to resist oil industry pressure to revise the program in their favor and allow the RFS to work.”

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 BIOtechNOW, an online portal and monthly newsletter chronicling “innovations transforming our world.” Subscribe to BIOtechNOW.

Upcoming BIO Events

World Congress on Industrial Biotechnology
June 16-19, 2013
Montreal, Canada

BIO Investor Forum
October 8-9, 2013
San Francisco, CA

BIO IPCC Conference
November 6-8, 2013
Washington, DC

BIO Convention in China
November 11-13, 2013
Beijing, China

Pacific Rim Summit on Industrial Biotechnology & Bioenergy
December 8-11, 2013
San Diego, CA

BIO CEO & Investor Conference
February 10-11, 2014
New York, NY

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