BIO Thanks Romney, Ryan for Supporting Energy Security and Standing Firm on the Renewable Fuel Standard

Washington, D.C. (August 24, 2012) –The Biotechnology Industry Organization (BIO) today thanked Gov. Mitt Romney for his stated intention to “support increased market penetration and competition among energy sources by maintaining the RFS” in “The Romney Plan For A Stronger Middle Class: ENERGY INDEPENDENCE,” released yesterday.

BIO President and CEO Jim Greenwood said, “The Renewable Fuel Standard is the bedrock policy supporting the emergence of advanced biofuels. The United States is at a critical juncture in the development of advanced biofuels, which are poised to make a real contribution to energy independence and security. Companies across the United States have made substantial long-term investmentsin building new biorefineries. The first commercial gallons of cellulosic biofuels were produced this year and the first large-scale biorefineries are set to begin production soon, adding to those gallons. Additional large-scale biorefineries are under construction, with production ready to begin within the next few years.

“Stable support for the Renewable Fuel Standard at the federal level provides assurance to these companies that their investments will come to fruition. Innovative biofuels have already brought competition among energy sources to the marketplace and lowered prices for consumers. Further, construction and operation of biorefineries will continue to generate new employment opportunities.”