Washington (PRWEB) April 13, 2011
Speaking before the U.S. Senate Committee on Environment and Public Works, DuPont BioFuels Global Director Jan Koninckx said the company fully supports maintaining the existing Renewable Fuels Standard (RFS) and advanced biofuels tax policies as vital tools needed to bring second-generation biofuels to market.
Advanced biofuels are a technological and economic reality, and they are about to be a commercial reality, Koninckx said. At this critical point in development, it is essential that these policies be maintained. With stable policy and access to the fuels pool, we will succeed.
RFS lays the foundation for achieving significant reductions of greenhouse gas emissions from the use of renewable fuels, for reducing imported petroleum while creating new job opportunities and encouraging the development and expansion of our nation’s renewable fuels sector.
Globally, the biofuels market reached $ 45 billion in 2009, and is estimated to grow to more than $ 100 billion by 2020. Todays biofuels produced from conventional crops deliver an estimated 20-60 percent greenhouse gas emission reduction versus conventional fossil fuels such as gasoline and diesel. Expectations are that cellulosic biofuels will deliver at least an 80 percent reduction.
