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BIO Praises NCEP Report, Urges Funding for Biorefineries.

The Biotechnology Industry Organization (BIO) recently praised the findings of the new "Growing Energy: How Biofuels Can Help End America's Oil Dependence" report prepared for the National Commission on Energy Policy (NCEP) by the Role of Biomass in America's Energy Future (RBAEF) project, which asserts that biofuels "can be cost-competitive with gasoline and diesel."

BIO said it also echoes the report's call for federal investment in construction of biorefineries to convert cellulosic crop residues to ethanol transportation fuel.

"The path to a sustainable and secure energy future based on corn stover, wheat straw and other crop residues requires innovation," said BIO Industrial and Environmental Section vice president Brent Erickson. "The biotech industry has provided a way to make ethanol from crop waste. Now we need new federal policies that do not focus solely on research and development but actually help get new biorefineries constructed and operating, and that will take a significant new loan guarantee program."

BIO noted that the NCEP report outlines a plan for government investment of $1.1 billion for research, development and construction of demonstration projects in addition to approximately $800 million for development of biofuel processing plants between 2006 and 2015.

"It takes seven to 10 years to build the infrastructure to produce biofuels on a large scale," said Erickson. "Federal loan guarantees are needed now if we are to start building biorefineries and producing fuel for American motorists. Federal loan guarantees are the best way to help build biorefineries without increasing the federal deficit."

Contact: Paul Winters, BIO, phone 202-962-9237.

(EIN STAFF: 12/8)
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Title Annotation:National Commission on Energy Policy
Publication:Alternative Transportation Fuels Today
Article Type:Brief Article
Geographic Code:1USA
Date:Dec 13, 2004
Words:260
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