Market Overview

BIO Urges EPA to Help Boost America's Rural Economy


On Friday, August 17, the Biotechnology Innovation Organization (BIO)
urged the Environmental Protection Agency (EPA) to use its authority
under the Renewable Fuel Standard (RFS) program to strengthen America's
biobased economy.

Brent Erickson, Executive Vice President of BIO's Industrial &
Environmental Section, released the following statement on BIO's
submission of comments on EPA's proposed 2019 RFS volumes:

"At a time when America's farmers and rural businesses are suffering
under the weight of low crop prices and so much trade uncertainty, EPA
should seize the opportunity afforded by the RFS program to promote the
type of innovation that will help grow advanced and cellulosic biofuels,
create more good paying jobs, and help revitalize rural America by
strengthening our world-leading biobased economy.

"The RFS program is an important program for ensuring that America's
rural economies can remain globally competitive and that the
hard-working families in these communities are able to flourish and

"To help protect and grow rural America, and ensure that we have a
globally competitive biobased economy, the EPA needs to further boost
advanced and cellulosic biofuel volumes to drive more investment in
these technologies, and must address the resulting demand destruction
from its increased issuance of small refiner exemptions (SRE) under the

"EPA's increased issuance of SREs undermines the agency's obligations to
enforce both the letter and spirit of the law, and it must reallocate
the gallons lost to waivers – as the agency intended in earlier drafts
on the proposed rule. Further, EPA should unequivocally reject any
further proposals to artificially lower RIN (Renewable Identification
Numbers) prices through increased SREs, a price cap, or RINs for exports.

"While BIO applauds EPA for its recent approval of the grain sorghum oil
renewable fuel pathway, the agency must move more quickly on approving
other new pathways for the development of advanced and cellulosic
biofuels, as well as registrations for facilities that seek to produce
cellulosic biofuel from corn kernel fiber. Removing these regulatory
barriers will help increase domestic production of advanced and
cellulosic biofuels, which in turn will not only further boost America's
biobased economy, but also will improve the U.S. transportation sector
and our environment by lowering greenhouse gas emissions and eliminating
particulate matter responsible for the formation of ground-level ozone."

BIO submitted its comments on EPA's proposed 2019 volumes on Friday, available
to view here.

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

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