BIO Statement On EPA Rule For 2014, 2015 And 2016 Renewable Fuel Standards

WASHINGTON--(BUSINESS WIRE)--If the Environmental Protection Agency (EPA) does not correct its course in its final rule for the 2014, 2015 and 2016 Renewable Fuel Standards (RFS), it will continue to undermine the goals and requirements of the statute, undercut investment in advanced and cellulosic biofuels, and raise greenhouse gas emissions in the transportation fuel sector, the Biotechnology Industry Organization (BIO) said today in reaction to the transmittal of the final rules to the White House Office of Management and Budget for review.

BIO represents leading developers and producers of cellulosic and advanced biofuels, including Abengoa Bioenergies in Hugoton, Kan.; DuPont in Nevada, Iowa; Enerkem in Alberta, Canada; GranBio in Alagoas, Brazil; INEOS Bio in Vero Beach, Fla.; POET-DSM in Emmetsburg, Iowa; and ZeaChem in Boardman, Oregon. The advanced biofuel industry has invested more than $6 billion since 2009 to build first-of-a-kind biorefineries around the world. Through the application of industrial biotechnology, BIO members are improving conventional biofuel processes, commercializing advanced and cellulosic biofuel production technologies, and speeding development of new purpose grown energy crops.

Brent Erickson, Executive Vice President of BIO’s Industrial & Environmental Section, said:

“The RFS has been a critical piece of our nation’s energy and climate policy. It has driven the investment of billions of dollars in the development and commercial deployment of ultra-low-carbon biofuels. It has spurred innovation beyond biofuels to the development of greener technologies and manufacturing processes while curbing our dependence on foreign oil.

“Unfortunately, as we explained in our official comments on the proposed rule, EPA’s new interpretation of its statutory authority to waive the requirements of the RFS statute has already chilled investment for advanced biofuels and has increased U.S. greenhouse gas emissions. If EPA issues a final rule that adopts the approach set forth in the proposed rule, the result will be continued market uncertainty and market constraints that will further undermine sustained investment in advanced biofuels.”

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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