BIO opposes API effort to dismantle US Renewable Fuel Standard

The US-based Biotechnology Industry Organisation (BIO) has applauded the acceleration in development of advanced biofuels technology that could lead to an improvement to US energy security.

The executive VP of the BIO Industrial and Environmental section Brent Erickson responded after the American Petroleum Institute asked  Congress to reform the RFS.

‘Reducing reliance on imported oil remains a key challenge for the US, since the costs of energy and transportation put a significant dent in every Americans’ pocketbooks and increase the prices they pay for food and other consumer goods. Yet the petroleum industry’s primary trade group continues to spend its resources to undermine a successful policy that encourages private investment in solutions to this problem,’ says Erickson in a statement.

‘Since the inception of the RFS, API has used every regulatory and legal ploy available to delay and block implementation of the law. Since these efforts appear to have failed, they are now mounting a public relations effort to convince lawmakers to repeal the RFS. Congress should see right through this effort.

‘With the RFS in place, US companies have made significant private investments in accelerating development of new technologies and building new biorefineries for advanced biofuels. In contrast, the petroleum industry has closed US refineries.’