Feds to invest up to $510M in biofuels for military, commercial uses
August 16, 2011 at 11:41 am by Brett Clanton
The U.S. government will invest up to $510 million over the next three years to develop advanced aviation and marine biofuels for military and commercial transportation, President Barack Obama announced today.
Under the plan, the U.S. Departments of Agriculture, Energy and Navy will partner with private industry to jointly construct or retrofit existing biofuel plants and refineries, with the goal accelerating output of renewable jet and diesel fuels, the White House said.
The administration touted the plan as a way to enhance both energy security and national security, while also helping domestic farmers.
“Biofuels are an important part of reducing America’s dependence on foreign oil and creating jobs here at home,” Obama said in a statement. “But supporting biofuels cannot be the role of government alone. That’s why we’re partnering with the private sector to speed development of next-generation biofuels that will help us continue to take steps towards energy independence and strengthen communities across our country.”
In the U.S., biofuels are largely derived from corn and vegetable oils. But producers are trying to develop “next generation” fuels from non-food crops, agricultural waste, wood chips, algae and other feedstocks that don’t impact the food supply. However, costs are high and technology hurdles remain.
The White House plan calls for the production of “drop in” biofuels that can be made in the same facilities as petroleum-based fuels and be transported through existing pipelines.
Posted on August 16, 2011, in AMERICAS, Tax Payer's Dime and tagged Barack Obama, Biofuel, CNOOC Limited, Dilma Rousseff, energy, environment, George Soros, Government, Obama administration, President, Tax Payer's Dime, United States, White House, Woodchips. Bookmark the permalink. 2 Comments.