The Environmental Protection Agency’s (EPA) delays in administering the Renewable Fuel Standard (RFS) generate uncertainty for the advanced biofuel industry and undercut investment, the Biotechnology Industry Organization (BIO) said in reaction to the House Oversight and Government Reform Subcommittee on Energy Policy, Health Care & Entitlements’ hearing on the agency’s administration of the program.
BIO President & CEO Jim Greenwood stated, “EPA’s failure to issue a final 2014 RFS rule and other ongoing administrative delays are being misconstrued by some in Congress as a sign that the program is broken. Nothing could be further from the truth. The underlying program has worked as intended to spur innovation and growth in the biofuels space, reducing our reliance on foreign oil along with greenhouse gas emissions.”
Greenwood explained that the RFS works for companies that invest in, build and start up new advanced and cellulosic biorefineries here in the United States. This year, several new, large-scale cellulosic biofuel facilities began operations. The cleaner, smarter transportation fuel future the organization has hoped for is here.
“Unfortunately, EPA’s ongoing delays have chilled investment and financing of future projects,” added Greenwood. “Even as first-of-a-kind cellulosic biofuel plants start operations. The agency’s attempt to change the program to benefit the oil industry was unwarranted. And ongoing uncertainty about the future of the program will only further starve the advanced biofuel industry of necessary investment.”
He expressed their hope that Congressional oversight will result in greater regulatory efficiency by EPA in managing the RFS program.