In a letter addressed to the Chairs and Ranking Members of the House Ways and Means Committee and the Senate Finance Committee, more than 30 advanced biofuel company CEOs have pressed for a five year extension of the Cellulosic Biofuels Producer Tax Credit and the Accelerated Depreciation Allowance for Cellulosic Biofuel Plant Property. The CEOs are quick to point out – these programs are critical to our efforts to attract capital given that these types of incentives are offered to other U.S. energy sectors.

Brooke Coleman, Executive Director of AEC, says – if the United States expects to lead the global effort to develop new and innovative alternatives to increasingly expensive petroleum-derived fuels, it cannot afford to allow the very policies that support emerging advanced biofuel industries to expire.

Brent Erickson, executive vice president of BIO’s Industrial and Environmental Section, says – producing affordable domestic alternatives to all products that come from foreign oil is vital to renewed economic growth and energy security. Companies that are innovating need stable policy to bring commercial-scale alternatives to the market.

And Michael McAdams, President of the ABFA says – at a time of record high gasoline prices the American public and their government need to explore every potential option to bring more renewable transportation fuels to the market in order to lower the overall cost to consumers.