Biofuels 'are the way forward'

The escalating price of gasoline has prompted a group of biofuel and renewable energy organisations in the US to release a letter to Congressional leaders asking for full support of the Renewable Fuel Standard.

BIO President & CEO Jim Greenwood said that ethanol was the only thing keeping gasoline prices in check, and that developing domestic alternatives to imported oil products will be the key to maintaining a healthy economy.

Mr Greenwood described biofuels as being one of the "few relief valves for US consumers." The biofuel analysis pointed to the fact that biofuels are moving towards commercialisation at a faster pace than ever, but need the constant support of federal policy in order to keep developing.

BIO is one of the main representatives of the biofuel industry, with over 1,100 biotechnology companies, academic institutions, state biotechnology centres and related organisations across the US and in more than 30 other nations.

Posted by Claire Manning