President Obama Announces U.S. Will Invest up to $510 Million in Biofuels
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Biorefining Magazine President Obama has announced a major initiative to spur the advanced biofuels industry and enhance America's energy security.
According to the USDA Office of Communications, the U.S. Departments of Agriculture, Energy and Navy will invest up to $510 million during the next three years in partnership with the private sector to produce advanced drop-in aviation and marine biofuels to power military and commercial transportation.
Organizers of the International Biorefining Conference & Trade Show are excited about the recent news. "We've been anxiously waiting for action from the Obama Administration," says Tom Bryan, Vice President of BBI International.
Bryan continued, "We anticipate this announcement, which is part of Obama's energy plan issued last March called the Blueprint for A Secure Energy Future, the Administration's framework for reducing dependence on foreign oil, and a major topic at this year's International Biorefining Conference & Trade Show."
The biofuels initiative is being steered by the White House Biofuels Interagency Work Group and Rural Council, both of which are enabling greater cross-agency collaboration to strengthen rural America.
"Biofuels are an important part of reducing America's dependence on foreign oil and creating jobs here at home," said President Obama. "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."