星期二, 8 7 月, 2025
Home PV News Obama administration to stimulate biofuel industry

Obama administration to stimulate biofuel industry

The Obama administration on Tuesday announced a $510 million initiative to boost the production of next-generation biofuels.


Under the plan sponsored by the Navy, Energy and Agriculture departments, companies will be invited to bid on new biofuel projects where the government will match the investment.


"The President understands that for us to be more competitive economically and for us to be more secure, we need a diversification in our energy choices rather than continuing to blindly support oil producing monopolies," Secretary of Agriculture Tom Vilsack said.


In March, President Obama set the goal of reducing oil imports by one-third by 2025.


Projects would involve producing fuels from wood chips and inedible parts of plants, as opposed to more traditional biofuels such as those made from corn..


"It will support development of a new, rural-focused industry that will replace imported crude oil with secure, renewable fuels made here in the U.S," Energy Secretary Steven Chu said.


The use of corn to make ethanol has been criticized for helping to drive up the price of the crop, hurting the poor globally.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisment -

Most Popular

Al Kharsaah: A Pioneering Solar Power Plant in Qatar

Located 80 km west of Qatar's capital, Doha, the Al Kharsaah Solar PV Independent Power Producer (IPP) project is the country's first large-scale solar...

OMV Petrom Buys 50 Pct Stake in Gabare Solar Project

OMV Petrom S.A. has acquired a 50 percent stake in the Gabare solar project from Enery Element, a large-scale project in Byala Slatina, near...

RWE 7.5MW/11MWh battery energy storage start commercial operation in Netherlands

Power generation firm RWE has put a BESS in the Netherlands into commercial operation, its first that is capable of providing inertia to the...

Gurīn Energy selects Saft’s battery energy storage system for first Japanese project

Saft, a subsidiary of TotalEnergies, has been selected by leading Asian renewable energy developer Gurīn Energy to supply a battery energy storage system (BESS)...