A recasting of oil industry data from a recent NERA Economic Consulting study prepared for the American Petroleum Institute (API) found the oil industry would be economically harmed by more than $12.3 trillion in potential profits in 2015 if the Environmental Protection Agency (EPA) sets the Renewable Fuel Standard (RFS) obligations below statutory levels. The analysis, “Economic Impacts Resulting from …
Study Shows Biofuel Use Saves Carbon Emissions
A new study from the Biotechnology Industry Organization (BIO) shows that use of biofuels over the past decade has saved nearly 590 million tons of carbon emissions. According to the study, the requirement under the Renewable Fuel Standard (RFS) over the past 10 years to substitute biofuels for fossil fuels has displaced nearly 1.9 billion barrels of foreign oil and …
Hope for Renewable Energy Tax Credits
The Senate Finance Committee is set to vote Tuesday on a two-year extension of tax benefits, including the production tax credit for wind power, and credits for biodiesel and cellulosic biofuels production. “This markup will give the Committee a timely opportunity to act on extending a number of expired provisions in the tax code that help families, individuals and small …
BIO to Put Innovation in Name
Same acronym… new innovative meaning. The Biotechnology Industry Organization… better known as BIO will soon become the Biotechnology Innovation Organization. This news release from BIO says the change is to highlight the scientific innovation the group brings. “I’m pleased to announce that the BIO Board has approved a change to BIO’s name… from the Biotechnology Industry Organization to the Biotechnology …
Ethanol Gears Up for Friday’s RVOs Announcement
Ethanol advocates are gearing up for Friday’s announcement by the U.S. Environmental Protection Agency (EPA) of the levels of renewable fuel to be mixed into the nation’s conventional fuel supplies. The Renewable Volume Obligations (RVOs) are mandated in the Renewable Fuel Standard (RFS), but the EPA has been tinkering with the amounts, which could put the biofuels industry in jeopardy. …
BIO to EPA: Issue RFS Rule Consistent with Statute
The Biotechnology Industry Organization (BIO) today issued comments on the proposed consent decree to resolve oil industry lawsuits against the Environmental Protection Agency over delays in promulgating final rules for annual biofuel volume obligations. “BIO is supportive of EPA’s commitments contained in the proposed consent decree, which would establish definitive deadlines this year for EPA to take final action on …
Biofuels Leaders Ask President for Meeting
A dozen organizations and companies representing biofuels interests this week sent a letter to President Obama asking for a meeting on proposed rules under the Renewable Fuel Standard (RFS) due to come out next month. The letter comes on the heels of an analysis from the Biotechnology Industry Organization (BIO) showing how EPA delays in setting volume requirements (RVOs) under …
RFS Uncertainty Chills Advanced Biofuel Funding
A new analysis from the Biotechnology Industry Organization (BIO) finds delays in rulemaking for the Renewable Fuel Standard (RFS) have chilled necessary investment in advanced and cellulosic biofuels. According to the analysis, the industry has experienced an estimated $13.7 billion shortfall in investment over the past two years as the Environmental Protection Agency has delayed setting volume obligations for biofuels …
Iowa Gov Branstad to Address BIO World Congress
Longtime advocate for biobased fuels Iowa Governor Terry Branstad will speak at this summer’s Biotechnology Industry Organization (BIO) World Congress in Montreal, Canada. This news release from BIO says Branstad is slated to speak during the July 20 plenary session titled, “State and Regional Approaches to Developing the Biobased Economy.” “Governor Terry Branstad is a true champion of our industry …
Pacific Ag CEO to Speak at BIO Pacific Rim Summit
The CEO and founder of the nation’s largest agricultural residue and forage harvesting business will be discussing biofuel feedstocks on a panel at the BIO Pacific Rim Summit in San Diego this week. Bill Levy of Oregon-based Pacific Ag will take part in the panel which will explore the realities faced by feedstock producers in today’s marketplace. Panelists will delve …