Algae Biomass Organization Applauds U.S. Reps. Peters and Salmon for Bi-Partisan House Bill to Increase R&D Funding for Carbon Capture & Utilization
Common sense approach to reducing emissions while creating jobs and decreasing costs for ratepayers
WASHINGTON, DC (July 29, 2015) The Algae Biomass Organization, the trade association for the algae industry, applauded U.S. Reps. Scott Peters (D-CA) and Matt Salmon (R-AZ) for introducing a bill designed to amend the Energy Policy Act of 2005 that would spur research and development of carbon utilization technologies. The act will be called the ‘‘Carbon Capture Research and Development Act.’’
The Peters-Salmon bill would amend the Energy Policy Act of 2005 to require the Secretary of Energy to consider the objective of improving the conversion, use, and storage of carbon dioxide produced from fossil fuels in carrying out research and development programs under that Act.
This bill is a companion bill to one offered in the Senate by U.S. Sens. Joe Manchin (D-WV) and Whitehouse (D-RI). Both bills direct the Secretary to amend Section 961(a) of the Energy Policy Act of 2005 (42 U.S.C. 16291(a)) by adding the following language at the end of the section “Improving the conversion, use, and storage of carbon dioxide produced from fossil fuels.’’
“We are so pleased that Congressmen Peters and Salmon have introduced the Carbon Capture Research and Development Act,” said Matt Carr, Executive Director of the Algae Biomass Organization. “Their bi-partisan collaboration shows that this common sense approach to dealing with carbon emissions is something that we can all get behind. We look forward to others in the House co-sponsoring the bill and moving it forward.”
Current approaches to emissions reduction that treat carbon like waste are energy-intensive and expensive, increasing costs for utilities and ultimately, ratepayers. Carbon utilization technologies like algae, conversely, convert waste carbon into marketable products. This approach can offset the cost of the carbon capture technology – and in some cases create an ongoing revenue stream. In both cases, ratepayers are spared.
“We’ve spoken with dozens of lawmakers on both sides of the aisle and we hear time and time again that this makes so much sense,” said Carr. “Carbon utilization offers the environmental benefits of emissions reduction with the economic and job-creation benefits of a free-market industry – it’s a powerful approach to solving the problem of carbon emissions.”
Products made from algae are the natural solution to the energy, food, economic and climate challenges facing the world today. This tiny but powerful organism has the ability to simultaneously put fuels in vehicles, reuse CO2, provide nutrition for animals and people, and create jobs for millions of Americans. More information can be found at www.allaboutalgae.com.
About the Algae Biomass Organization
The Algae Biomass Organization (ABO) is a 501 c(6) non-profit whose mission is to promote the development of viable commercial markets for renewable and sustainable commodities derived from algae. Its membership is comprised of people, companies, and organizations across the value chain. More information about ABO, including its leadership, membership, costs, benefits, and members and their affiliations, is available at the website: www.algaebiomass.org.