White biotechnology: differences in US and EU approaches?

Several predominantly political movements advocate white, or industrial, biotechnology as a means to alleviate economic, ecological and societal problems in petroleum-dependent industrialized nations worldwide. US and European approaches differ significantly and we believe that, in the long-term, only economic drivers will be able to bring about the broad use of renewable resources and a bio-based economy. As long as the cost of fossil fuel and feedstock for key chemicals have not passed their respective critical thresholds, industrial biotechnology and its products will need political support and funding, particularly in the energy and bulk-chemicals sectors. Other uses of industrial biotechnology, however, such as biocatalytic conversions of fine and specialty chemicals and the manufacture of high-value products, such as nutriceuticals, cosmeceuticals and performance chemicals offer dynamic growth opportunities both for established chemical industries, as well as emerging entrepreneurial enterprises.