Last updated on April 18, 2014 at 11:11 EDT

Business Leaders Lobby for Passage of Strong Low Carbon Fuel Standard

April 21, 2009

SACRAMENTO, Calif., April 21 /PRNewswire/ — On April 23, the California Air Resources Board (ARB) is expected to vote to adopt a first-in-the-world Low Carbon Fuel Standard (LCFS), aimed at reducing the carbon content of the transportation fuels used in the state. California business leaders, representing a vast array of economic interests, are rallying in support of the standard and calling on the ARB to pass the measure.

A letter signed by a broad range of top business interests states:

As designed, the LCFS is an important mechanism for motivating market activity toward production of more sustainable biofuels that deliver the greatest greenhouse gas benefits. It rewards and incentivizes investment in the cleanest low carbon fuels and discourages investment in dirtier, higher carbon fuels. The LCFS accurately and fairly recognizes that not all fuels are equal; accounting for the full “lifecycle” of a fuel, including indirect land use impacts for various biofuels, results in different fuel carbon intensities. Many next-generation fuels such as electricity, natural gas, hydrogen, and superior advanced biofuels made from waste, non-food crops, and new sources such as algae will thrive and advance under the standard because they have lower lifecycle greenhouse gas emissions than gasoline or diesel. Many of these fuels today are the target of significant venture capital investment, and they stand to benefit from the standard’s emissions accounting framework. (The letter is posted in its entirety at: http://www.catercommunications.com/businessbacksLCFS.htm )

A second letter, signed by advanced biofuels producers and venture capitalists, further endorses the ARB staff proposal’s recommendation to measure the lifecycle impacts of biofuels, including land use change, saying:

We support CARB’s decision to act now in motivating market activity that heeds both LCFS and indirect land use change (ILUC) concerns … Even if indirect land use effects are difficult to precisely predict, the regulation can be designed to encourage the right behaviors by the industry. (The letter is posted in its entirety at: http://www.e2.org/jsp/controller?docName=lcfs_support)

SOURCE California business leaders

Source: newswire