BIO Welcomes Obama Proposal To Achieve Advanced Biofuels Targets, Final Rules On Renewable Fuel Standard

Main Category: Pharma Industry / Biotech Industry
Article Date: 04 Feb 2010 - 4:00 PDT

email to a friend   printer friendly   opinions  

The Obama administration's new biofuels initiative is a much-needed step in federal coordination that can help pioneer companies secure the investment needed to build large-scale advanced biofuels production facilities. Rapid implementation of final Renewable Fuel Standard rules will create the market space for advanced biofuels; but more work is needed to accommodate further innovation and scale-up of new technologies. The Biotechnology Industry Organization (BIO) today thanked the Obama administration for renewing its commitment to support increased production and use of all biofuels, including advanced biofuels that can help create thousands of new green jobs, increase energy security and reduce greenhouse gas emissions.

Jim Greenwood, BIO president and CEO, stated, "The Obama administration clearly recognizes that large-scale production of advanced biofuels can be a driver of green job creation, energy security and greenhouse gas reductions. This new initiative will send a message to the industry and potential investors that the federal government is strongly committed to achieving advanced biofuels production and use targets. BIO has previously called for better federal coordination of programs to help integrate the complete biofuel supply chain, from crop production to fuel production and marketing. This coordination will help stimulate the private investment needed to build new biorefineries. On behalf of our member companies we thank the Obama administration for its leadership on this issue.

"Directing federal resources and funding in a coordinated framework to the development of new feedstocks, transportation and distribution networks, and vehicles can help create a robust value chain for the bioeconomy. The administration and Congress should also direct funding and incentives to production of biobased products and renewable chemicals as part of that value chain."

BIO previously asked federal policymakers to implement a comprehensive policy approach to support biofuels and biobased products deployment and to inject immediate capital for biorefinery construction, feedstock development, and fuel delivery infrastructure. The economic recession slowed the deployment of advanced biofuel technology. Due to uncertainty about regulations and financial risk, advanced biofuel producers have not been able to access capital needed to construct biorefineries and meet the production goals of the Renewable Fuel Standard.

Brent Erickson, executive vice president of BIO's Industrial and Environmental Section, added, "The final rule announced today by the EPA highlights the fact that - even with questionable assumptions about international land use change - advanced biofuels can significantly reduce and reverse growth of U.S. greenhouse gas emissions from transportation. We believe - and the EPA's analysis shows - that biotechnology continues to improve the efficiency and environmental profile of biofuels production. In addition to enabling use of cellulosic material as a feedstock, biotechnology makes possible production of drop-in fuels and hydrocarbon molecules from any source of sugar. Further, biotechnology can help farmers and biofuel producers reduce carbon emissions by increasing yields from existing crop land; enabling new, high-yield purpose-grown energy crops; increasing yields of fuel per ton of raw material; and reducing fossil fuel inputs in agriculture and biorefining.

"Advanced biofuels are a key to creating new jobs and revitalizing the U.S. economy, as shown in a recent report commissioned by BIO, U.S. Economic Impact of Advanced Biofuels Production. Development of the advanced biofuels industry could produce hundreds of thousands of new green jobs and contributing more than $140 billion in economic growth by 2030. Rapidly increasing U.S. production of advanced biofuels is also a sound way to significantly reduce U.S. reliance on imported petroleum and carbon emissions associated with climate change."

For a copy of the report, U.S. Economic Impact of Advanced Biofuels Production, please visit here. BIO supports the production of biofuels from all feedstocks. Agricultural biotechnology is helping to increase crop yields, while industrial biotechnology is helping to convert crops, crop residues and other feedstocks into ethanol more efficiently. With ongoing advances in biotechnology, biofuels can help America meet nearly half its transportation-fuel needs by the middle of this century.

Upcoming BIO Events

12th Annual BIO CEO & Investor Conference
February 8-9, 2010
New York, NY

9th Annual BIO Windhover & Pharmaceutical Strategic Outlook
February 23-25, 2010
New York City, NY

BIO-Europe Spring
March 8-10, 2010
Barcelona, Spain

BIO Intellectual Property Counsels Spring Conference and Committee Meeting
April 19-21, 2010
New Orleans, LA

Partnering for Global Health
May 3, 2010
Chicago, IL
McCormick Place Convention Center

BIO International Convention
May 3-6, 2010
Chicago, IL
McCormick Place Convention Center

2010 BIO Human Resources Conference
May 4-7, 2010
Chicago, IL

World Congress on Industrial Biotechnology and Bioprocessing
June 27-30, 2010
Washington, DC

BIO's Livestock Biotechnology Summit
September 28-30, 2010,
Sioux Falls, SD

Source
Biotechnology Industry Organization

• Additional
• References
• Citations