Illinois Ag Connection - BIO Thanks Senators for Supporting Higher RFS Volumes

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BIO Thanks Senators for Supporting Higher RFS Volumes
Illinois Ag Connection - 06/27/2016

The Biotechnology Innovation Organization (BIO) today thanked a bipartisan group of 39 Senators for urging EPA to get the Renewable Fuel Standard (RFS) "back on track by setting blending targets where Congress intended and by removing the distribution waiver." In particular, BIO thanked Sens. Charles Grassley (R-IA), Amy Klobuchar (D-MN), John Thune (R-SD), Dick Durbin (D-IL), Al Franken (D-MN), and Mark Kirk (R-IL).

Brent Erickson, executive vice president of BIO's Industrial & Environmental Section, stated:

"BIO greatly appreciates the 39 Senators who have urged EPA to ensure that its final rule for 2017 promotes growth in the biofuel sector and captures economic opportunities here in the United States. The Senators understand that EPA's waiver of RFS volumes in 2014, 2015 and 2016 continues to cause biofuel investment to fall.

"EPA acknowledges that its delays in rulemaking undercut investment in advanced biofuels. It fails to recognize, however, that its methodology continues to discourage investment in advanced biofuels. Investment patterns clearly demonstrate that EPA is sending a sustained market signal that disincentivizes advanced biofuels, causing a $22.4 billion shortfall in necessary investment.

"EPA must correct course in the final 2017 rule and ensure that the U.S. transportation fuel market is open to every gallon of renewable fuel that can be produced."

BIO is the world's largest trade association representing biotechnology companies, academic institutions, state biotechnology centers and related organizations across the United States and in more than 30 other nations. BIO members are involved in the research and development of innovative healthcare, agricultural, industrial and environmental biotechnology products. BIO also produces the BIO International Convention, the world's largest gathering of the biotechnology industry, along with industry-leading investor and partnering meetings held around the world. BIOtechNOW is BIO's blog chronicling "innovations transforming our world" and the BIO Newsletter is the organization's bi-weekly email newsletter.

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