BIO Commends Rep. Devin Nunes for Introduction of Ethanol from Cellulose Tax Credit

WASHINGTON, D.C. (July 28, 2006) -- Jim Greenwood, President and CEO of the Biotechnology Industry Organization (BIO), issued the following statement thanking Rep. Devin Nunes (R-Calif.) for introducing H.R. 5890, the “American-Made Energy Freedom Act:”

“As President Bush said in his State of the Union address, replacing imported oil with domestically produced alternative fuels will improve the environment, keep America competitive, and end our dependence on foreign sources of oil.

“Ethanol production from corn has been the tip of the spear in terms of ending our addiction to foreign oil. Current levels of ethanol production have been aided by an excise tax credit used to offset the costs of building critically needed infrastructure.

“Likewise, ethanol from cellulosic biomass (CBE) represents a tremendous potential source of renewable liquid transportation fuel for this country. The U.S. Department of Energy has estimated that ethanol from cellulosic biomass could replace 30 percent of U.S. gasoline demand by 2030, and the Natural Resources Defense Council estimates that CBE could replace 50 percent or more of U.S. demand by 2050.

“Supportive federal policy can help advance energy security in the future. The ‘American-Made Energy Freedom Act’ recognizes that ethanol from cellulosic biomass faces significant challenges in entering the transportation fuel marketplace and provides dedicated funds to help overcome initial financial risk to promote rapid commercialization of this vital source of clean, renewable energy produced from feedstocks grown by America’s farmers.

“BIO supports the production of biofuels from all agricultural feedstocks and is grateful for the commitment of Rep. Nunes and other sponsors of H.R. 5890 to a clean, secure energy future that benefits all Americans.”

BIO represents more than 1,100 biotechnology companies, academic institutions, state biotechnology centers and related organizations across the United States and 31 other nations. BIO members are involved in the research and development of healthcare, agricultural, industrial and environmental biotechnology products.

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