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HR Bill Gets ABO Support

December 27, 2010
AlgaeIndustryMagazine.com

A biofuels-related bill recently introduced into the House by Rep. Inslee (D-Wash) is a positive one for the algae-based biofuels industry, according to the Algal Biomass Organization (ABO). Just before the Congressional session broke for the holiday, Rep. Inslee introduced H.R. 6554, the “Domestic Fuel For Enhancing National Security Act,” which would authorize the Department of Defense (DoD) and other government agencies to engage in long-term contracts for the purchase of advanced biofuels. Currently, the DoD is limited to signing five-year contracts with refiners; the bill would extend that to 15 years, which would provide a lot more certainty to the market and to potential financiers of commercial-scale biofuels facilities.

In the ABO’s statement of support for the bill, Executive Director, Mary Rosenthal said, “We applaud Representative Jay Inslee (D-Wash) for introducing H.R. 6554, “Domestic Fuel for Enhancing National Security Act of 2010,” which will help accelerate the production of domestic advanced biofuels in the United States. We urge Rep. Inslee’s colleagues in Congress to support this very important piece of legislation.

“By making it possible for the Department of Defense and other government entities to sign long-term contracts for advanced biofuels, such as those derived from algae, this legislation will help provide the certainty investors require before financing the construction of first-of-a-kind, commercial-scale, advanced biofuel production facilities. With the U.S. Navy and Marines already contracting for and testing large quantities of algae-based biofuels as part of their effort to reduce their petroleum consumption, it is crucial that the Department of Defense and other agencies are able to sign long-term contracts that promote the commercialization of these technologies.

“We thank Rep. Inslee for embracing the role our nation’s military can take in fostering the development and deployment of domestic advanced biofuels.”

Source: http://www.algaeindustrymagazine.com/hr-bill-gets-abo-support/?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+AlgaeIndustryMagazine+%28Algae+Industry+Magazine%29

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