Washington, D.C. (July 26, 2013) – The Renewable Fuels Standard (RFS) must be maintained in order to spur alternative energy production and mitigate the impacts of overreliance on oil, according the Biotechnology Industry Organization (BIO).
In comments submitted today on the U.S. House of Representatives Committee on Energy and Commerce’s (Committee) fifth Renewable Fuel Standard assessment white paper examining the Implementation of the RFS, BIO asserts that the RFS has been a success in driving the commercialization of technologies that help to reduce the U.S. transportation system’s overwhelming reliance on foreign petroleum.
“The RFS provides exactly the type of long-term regulatory stability needed to send a signal to investors to develop a biofuels industry that lessens our dependence on foreign fuels and creates jobs in America,” said Brent Erickson, executive vice president of BIO’s Industrial & Environmental Section.
“The single most important thing Congress can do to reduce our nation’s dependence on foreign oil, create more high quality jobs, and cut pollution is to leave the RFS in place, as-is,” said Erickson. “It just would not make sense for Congress to tell the American people we are walking away from billions of dollars in biofuels infrastructure development that are creating new jobs in communities across the nation.”
**A copy of BIO’s comments is posted online at http://www.bio.org/node/18952.