WASHINGTON--(BUSINESS WIRE)--The Biotechnology Innovation Organization (BIO) today thanked Sens. Charles Grassley (R-IA), Amy Klobuchar (D-MN) and 21 other senators for sending a letter to President Donald Trump, strongly urging him “to reject changes to the Renewable Fuel Standard that would shift the compliance requirements or the ‘point of obligation.’” BIO agrees that such any change to the program is unwarranted and similarly appreciates the commitment the president has made to support the RFS.
Brent Erickson, executive vice president of BIO’s Industrial & Environmental Section, stated, “The RFS has been a success. Congress established the program to ensure that advanced biofuels would be produced and used in the United States. And Congress appropriately put the obligation on refiners and importers to ensure that the market was open to renewable fuels.
“Previous delays in rulemaking and unwarranted proposals to change the RFS rules midstream undercut investment in the advanced and cellulosic biofuel sector by more than $22 billion. Our industry needs stability in the program and we sincerely thank the Senators who sent today’s letter for ensuring the program remains on track.”
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. Subscribe to the BIO Newsletter.
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