TMCnet News
BIO Applauds US Court of Appeals Decision on the Renewable Fuel StandardThe Biotechnology Innovation Organization (BIO) today welcomed the U.S. Court of Appeals for the District of Columbia Circuit opinion and order upholding Americans for Clean Energy's (News - Alert) challenge to the Environmental Protection Agency's final rule setting the 2014-2016 Renewable Fuel Standard volume obligations. The Court supported ACEI's argument that EPA exceeded its authority in interpreting its general waiver authority. BIO President & CEO Jim Greenwood stated, "BIO and its members are pleased that the Court agreed with us that EPA's flawed methodology would have allowed the oil industry to control the volumes of renewable fuels offered to consumers. BIO has consistently said that the RFS statute does not allow EPA to rely on demand-side factors under the oil industry's control as a basis for setting annual volumes. "We are equally pleased that EPA abandoned its legall flawed reliance on general waiver authority in subsequent rules. We will continue to work with the agency as it reconsiders the 2015 and 2016 RFS volumes. EPA can send a strong signal that it will support the biofuels industry and grow advanced and cellulosic biofuel production. "BIO's members rely on the RFS to open the U.S. transportation fuel market to new, cleaner technologies. Stability in this program enables our member companies to secure investment for the development and commercialization of new advanced biofuel technologies." About BIO 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.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170728005598/en/ |
