Consistent Policies and Biofuel Development
Brent Erickson, Executive Vice President of the Biotechnology Industry Organization, had a letter to the editor published in the New York Times today basically stating that the government needs to create a consistent policy towards biofuels.
… Meanwhile, cellulosic and algae biofuels have been unable to attract badly needed private-sector investment, in part because federal support programs have been carried out haphazardly.
Parity in tax policies would send a signal to investors that the federal government is committed to developing advanced biofuels as the most viable replacement for petroleum in the transportation sector. Legislation has been introduced in the House Ways and Means Committee and should be supported by the Senate.
Inconsistency is a killer of investments and market growth. Even bad policy, if applied in a consistent way, can lead to growth since uncertainty is greatly reduced and the market can know what to expect.
Check out the rest of the article here: http://www.nytimes.com/2010/08/08/opinion/l08biofuels.html?_r=1
