The Environmental Protection Agency’s decision to hold the 2014 Renewable Fuel Standard (RFS) continues the atmosphere of uncertainty for the advanced biofuel industry, the Biotechnology Industry Organization (BIO) said today in reaction to EPA’s announcement that it will not finalize a standard for this year.
BIO President & CEO Jim Greenwood stated, “We appreciate that EPA will not be finalizing a proposed 2014 RFS rule containing a flawed methodology for setting the renewable fuel volumes. We will continue to work with the agency to get this successful program back on track as soon as possible.
“The RFS supports companies that invest in, build and start up new advanced and cellulosic biorefineries here in the United States. It’s clear that the advanced biofuel industry has made rapid strides to increase production capacity to meet the annual volume requirements. Unfortunately, the delay in this year’s rule already has chilled investment and financing of future projects, even as first-of-a-kind cellulosic biofuel plants are right now starting up operations. The industry needs a final rule that is legally appropriate and continues to support our efforts.”
Source: Biotechnology Industry Organization
Date: Nov 21, 2014