Jan 26 2011
Biotechnology Industry Organization (BIO) applauded EPA’s decision to postpone CO2 emissions permitting requirements of biomass facilities till further studies are carried out regarding biogenic carbon’s lifecycle emissions profile.
According to Brent Erickson, BIO’s Executive Vice President, Industrial & Environmental Section, renewable biomass could mitigate greenhouse gas emissions and recycle carbon in the atmosphere while still providing both transportation fuels and the energy needed for the growth of the economy in the US. Hence they should not be treated the same way as fossil fuels are done. He revealed that vital national objectives were met by the increasing use of biochemicals, biofuels and bioproducts, which utilize biomass in place of fossil fuels. Their usage would also decrease reliance on imported petroleum, enhance land cultivation, decrease the atmospheric concentrations of GHG emissions and also create new markets for crops grown sustainably.
According to Erickson, Federal policy should also provide incentives to innovative technologies such as biotechnology that employ renewable biomass and create more energy efficient industry and manufacturing processes. He mentioned that the biotechnology industry was eagerly waiting to work along with EPA to develop a method, which was scientifically sound for quantifying the greenhouse gas benefits provided by biomass and also to apply the best technology methods for reducing the greenhouse gas emissions.
The World Economic Forum states that conversion of biomass into biofuels, chemicals and energy has the capacity to generate around $230 billion by 2020. A study and report by BIO titled ‘U.S. Economic Impact of Advanced Biofuels Production’ revealed that several thousand jobs would be created by developing advanced bio-refineries during the ensuing years, which would contribute to $140 billion to the growth of the economy. It also disclosed that production of advanced biofuel would save $350 billion in oil imports from now to 2022. ‘Biobased Chemicals and Products: A New Driver of U.S. Economic Development and Green Jobs’, a BIO white paper demonstrated that bio-based chemicals and plastics industry growth could create innumerable number of jobs.